Cryptocurrency exchange Kraken will allow individual investors to purchase tokenized shares at its IPO price via xStocks framework.
Cryptocurrency exchange Kraken announced plans to offer retail investors access to its initial public offering at the offer price. The move, facilitated through a partnership with tokenized equities platform xStocks, will allow individual investors to register interest and receive tokenized shares backed 1:1 by Kraken’s actual stock held in custody by a regulated entity.
Retail access to IPOs at the offering price is typically limited to institutional investors, private banking clients, and underwriters. xStocks, which manages the tokenization process, has surpassed $30 billion in transaction volumes, with over $6 billion settled onchain across blockchains including Ethereum ($ETH) and Solana ($SOL).
Kraken is expected to list on the Nasdaq ($NDAQ) in the second half of this year, though no exact date has been announced.