Kraken to Launch Tokenized US Stocks for Non-American Customers, Enabling 24/7 Trading

Kraken is set to launch tokenized versions of popular U.S. stocks, including Apple, Tesla, and Nvidia, allowing non-U.S. customers to trade these assets over a digital ledger. The initiative, branded as “xStocks,” aims to simplify access to U.S. equities for international investors by enabling 24/7 trading, even when U.S. markets are closed, according to a WSJ report. The rollout will begin in the coming weeks across Europe, Latin America, Africa, and Asia, although U.S. customers will not have access to these tokenized stocks. Kraken plans to tokenize over 50 stocks and exchange-traded funds (ETFs), including the SPDR S&P 500 ETF and SPDR Gold Shares, using the Solana blockchain. Each xStocks token will be backed by shares of the underlying securities, ensuring that their prices remain aligned with the corresponding stocks. This move is expected to reduce the high fees and slow settlement times typically associated with purchasing U.S. stocks through local brokerages, providing a more efficient investment option for overseas investors.