Amid the increasing expansion of real-world asset (RWA) tokenization, the crypto exchange Kraken has launched tokenized US stocks and Exchange-Traded Funds (ETFs) for eligible users in the European Union (EU). These assets are offered through xStocks, a platform for tokenized traditional US stocks and ETFs. The move follows Robinhood’s launch of tokenized versions of nearly 200 US stocks and ETFs for European customers.
Kraken expands $3.5 billion worth of xStocks
According to reports, xStocks has $3.5 billion worth of US stocks and ETFs. Kraken is expanding the billion-dollar worth of tokenized assets to the EU, providing 24/7 access to investors based in the EU. The platform will grant access to over 60 tokenized US assets.
With xStocks in the EU, Kraken aims to bring exposure to the US markets, noted Mark Greenberg, Kraken’s Global Head of Consumer. Greenberg underscored that the exchange has a strong market presence in the EU, and expanding xStocks to the region was a “natural next step for Kraken”.
xStocks shows greenlight
Since its debut in June 2025, xStocks has played a game-changing role in tokenizing traditional US equities and ETFs. Bybit and Backed Finance have jointly listed xStocks on their Spot platform, providing 24/7 access to tokenized assets. Blacked Finance has also launched xStocks on the Solana DeFi ecosystem.
Kraken builds roots in 30 EEA countries
Last month, Kraken received Europe’s Markets in Crypto Assets (MiCA) license, authorized by the Central Bank of Ireland, to operate in 30 European Economic Area (EEA). With the launch, clients in the region gain access to more than 450 digital assets, fast and easy onboarding, institutional-grade trading services, and more.
Besides, Kraken is preparing for an Initial Public Offering (IPO) in early 2026, raising $500 million in funding at a valuation of $15 billion. This signals its expansion beyond the US boundaries. Notably, the exchange executives have discussed with the SEC’s Crypto Task Force about bringing xStocks to US investors.
Tokenization increases as competition escalates
RWA tokenization has become a growing sector in the blockchain industry, with a record value of $28.3 billion (total RWA on chain). Binance co-founder Changpeng Zhao highlighted that trillions of traditional assets are moving on-chain as RWA adoption increases.
Recently, Ondo Global Markets launched 100 tokenized US stocks and ETFs on Ethereum. Meanwhile, xStocks has launched its tokenized assets on Solana, Tron, and BNB Chain.
