Kraken’s tokenized stock platform, xStocks, has unveiled xChange, a multi-chain execution layer for tokenized equity trading. The platform enables cross-chain transactions on Ethereum and Solana and supports over 70 tokenized stocks directly on-chain. By supporting cross-chain trading, xChange aims to boost liquidity and accessibility, allowing traders to operate seamlessly across two largest blockchain networks in DeFi by total value locked. Ethereum and Solana, the two blockchains supported by xChange, have a DeFi TVL of approximately $58.6 billion and $8.2 billion, respectively.
The new execution layer for xStocks operates 24/7. Backed, the developer of xStocks, originally launched the tokenized equities alongside crypto exchange Kraken last June. By August, the platform reported $500 million total on-chain transaction volume, while today’s announcement says that number has reached over $3.5 billion. xStocks are available to traders outside of the United States, giving exposure to tokenized versions of U.S. equities that are backed 1:1 by underlying shares.
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