Kraken Brings 7,000+ U.S. Stocks to Europe, Becomes First Crypto Platform Offering Traditional Shares and Tokenized Equities in One Account

RWA Signal Insight
StocksKraken has launched commission-free trading for over 7,000 U.S.-listed stocks and 700 tokenized xStocks for customers across the European Economic Area. This integration allows users to manage traditional equities and tokenized assets within a single regulated account under the MiFID II framework. By offering both traditional shares and 1:1 collateralized xStocks, Kraken aims to bridge the gap between traditional finance and crypto-native infrastructure. The platform, operated by Payward Europe Digital Solutions, distinguishes itself from competitors like Crypto.com and Bitpanda by providing a unified interface for both asset types. Tokenized equities currently represent 15% of the RWA market, with a total market capitalization of approximately $2.8 billion. Kraken, alongside Ondo Finance and Binance, controls 77% of this specific sector. This expansion signifies a major shift toward institutional-grade convergence, as trading activity on the platform increasingly pivots toward equity-based products despite a 13% year-over-year decline in total transaction volume.
Key points
- Kraken launched 7,000+ U.S. stocks and 700+ tokenized xStocks for EEA customers.
- Services are provided by MiFID II-authorized entity Payward Europe Digital Solutions.
- Tokenized equities now comprise 15% of the RWA market, totaling $2.8 billion.
- Kraken, Ondo Finance, and Binance control 77% of the tokenized equity market.
Background
Tokenized equities are digital representations of traditional stocks recorded on a blockchain, allowing for 24/7 trading and fractional ownership. These assets are typically backed 1:1 by the underlying security held in custody, ensuring that the token holder maintains economic exposure equivalent to the traditional share.