The crypto exchange will offer blockchain-based versions of stocks from the UK, Hong Kong, and South Korea pending regulatory approvals.
Cryptocurrency exchange Kraken is broadening its tokenized stock offerings to include equities from the United Kingdom, Hong Kong, and South Korea. The expansion, part of its xStocks platform, aims to provide investors with blockchain-based digital representations of traditional shares, enabling faster settlement and 24/7 trading.
The move follows recent expansions by Robinhood Markets ($HOOD) and planned offerings from Coinbase Global ($COIN). Competition in tokenized equities is intensifying as both crypto firms and Wall Street institutions push to bring stock trading onchain. Citigroup ($C) projects tokenized securities could reach a $5.5 trillion market by 2030, with $2.6 trillion in tokenized stocks.
Kraken’s expansion is subject to regulatory approvals and reflects growing demand for digital asset exposure. The exchange also plans to extend xStocks into tokenized bonds and ETFs.