Kraken‑Backed Tokenized Stocks Launch in the EU for Deutsche Börse Group Clients

Kraken‑backed xStocks are now tradable on 360X, a BaFin‑ and ESMA‑regulated secondary venue owned by Deutsche Börse Group, allowing institutional clients on 360X to trade CRCLx, GOOGLx, NVDAx, SPYx, and TSLAx against stablecoins; the listing follows the Kraken–Deutsche Börse strategic partnership and expands coverage over time.

This matters because xStocks—each backed 1:1 by underlying equities or ETFs and held with licensed custodians in bankruptcy‑remote structures—have exceeded nearly $20 billion in trading volume since May 2025 and offer round‑the‑clock trading with instant settlement; Carlo Kölzer of Deutsche Börse Group and Mark Greenberg of xStocks highlight institutional access and scalability.

Read More: Kraken and Deutsche Börse Set Bold Framework Syncing Legacy and Digital

🧭 FAQs

• What assets are available as xStocks on 360X and where? Five xStocks—CRCLx, GOOGLx, NVDAx, SPYx, TSLAx—are available to Deutsche Börse Group clients on 360X in EU jurisdictions.
• How are xStocks backed and custodied for European clients? Each xStock is 1:1 backed by the underlying equity or ETF and held with a licensed custodian in a bankruptcy‑remote structure.
• What regulation covers trading on 360X for local users? 360X operates under BaFin and ESMA regulatory frameworks for EU trading participants.
• Are U.S. investors able to trade xStocks on 360X? No; the xStocks listing on 360X is not available to U.S. clients.