Kraken Surpasses $5 Billion in Tokenized Stock Trading as Revenue Doubles

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Cryptocurrency exchange Kraken announced a major milestone for its tokenized equities product, revealing that trading volume has surged past $5 billion.

The offering, known as xStocks and launched in partnership with Swiss fintech Backed, has also attracted over 37,000 unique holders and generated more than $1 billion in on-chain transactions.

The news comes alongside a reported doubling of revenue for the division, signaling strong international demand for a new way to trade traditional stocks like Apple or Tesla using blockchain technology, available 24/7 outside the US.