Kraken is rolling out xStocks to customers in Europe after launching the product in June. The move opens access to over 50 U.S. stocks for European investors. Kraken says it aims to cut the usual hurdles, such as currency conversion, settlement delays and high fees. 

The company will add BEP-20 token support and has already worked with Backed and Tron to widen blockchain options. The change seeks to make U.S. equities easier to reach without brokers, Bloomberg reported.

What does xStocks?

xStocks are token certificates that follow the price of U.S. shares. They track names like Nvidia and Google.

Users can hold these tokens in their own wallets, and they can also use them inside decentralised finance apps. The tokens remove the need for a middleman in the trade process.

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Why is Kraken expanding?

Kraken says many European investors face friction when they try to buy U.S. stocks. Currency swaps and slow settlement are common problems. Fees on some platforms can also add up. 

Mark Greenberg, Kraken’s Global Head of Consumer, said xStocks removes many of those barriers. The firm thinks more investors will take part once those steps are simplified.

On June 30th, we reported, Kraken launched xStocks with the tokenisation startup Backed, and since then, the project has added support for the Tron blockchain. The company now plans to support BEP-20 on the BNB Chain. 

Kraken has also pointed to plans to add support for Ink and other blockchains over time. The goal is to let users pick networks that suit their needs.

Trading volume since launch

Since June, xStocks have recorded strong trading, and data from Dune Analytics shows about $3.84 billion in volume across both centralised and decentralised markets. 

That level of activity suggests demand for tokenised versions of shares. It also shows traders are moving real money into these token products.

When a user buys an xStock token, they get exposure to the underlying share price. The token itself can move on blockchains. This makes it possible to send the token to a private wallet.

It also lets users plug tokens into DeFi services that accept them. For some investors, that flexibility is the main draw.

Recent company moves and trader program

Kraken has been active beyond tokenisation, and the company completed the acquisition of Breakout, a trading firm that uses evaluation-based funding. Kraken plans a global program following the deal. 

Skilled traders could get access to up to $200,000 in notional capital under that program. Kraken says this will help traders scale their strategies.

Tokenisation raises questions about custody, regulation and market rules. Exchanges and issuers will need to handle those details as the market grows.

What this means for European investors?

For retail buyers in Europe, xStocks could mean cheaper and faster ways to follow U.S. shares. They might avoid foreign broker accounts and some cross-border fees. 

But investors should check custody options and network fees before moving tokens. Not all blockchains and wallets offer the same experience.

Kraken’s expansion of xStocks marks another step in the push to bring onchain access to mainstream assets. By adding blockchain choices and moving into Europe, the company is betting that demand for tokenised shares will keep rising. How fast this market grows will depend on investor interest, technical choices and how regulators respond.

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