Crypto exchange Kraken has introduced a new onchain trading engine called xChange, designed to support trading of tokenized equities through its xStocks platform. The system aims to expand access to blockchain-based versions of traditional financial assets.
xChange Engine Supports Tokenized Equities on Ethereum and Solana
The new trading infrastructure enables users to buy and sell more than 70 tokenized stocks across the Ethereum and Solana networks. Each tokenized asset is backed 1:1 by underlying shares held in custody, with prices designed to track the corresponding publicly traded stock.
Tokenized equities are part of the broader real-world asset tokenization movement, which focuses on bringing traditional financial instruments such as stocks and bonds onto blockchain-based systems.
xStocks Platform Growth and Trading Activity
Kraken launched the xStocks platform earlier this year, offering blockchain based versions of publicly listed companies issued by Backed Assets. However, the products are currently unavailable to users in the United States and several other restricted jurisdictions.
Company data shows the platform has generated about $3.5 billion in onchain transaction volume and roughly $26 billion in total trading activity. Approximately $225 million in tokenized assets are held across nearly 80,000 blockchain wallets.
Exchanges Increasing Focus on Tokenized Securities
Other major financial institutions are also exploring tokenized markets. Coinbase plans to launch an institutional platform called Coinbase Tokenize, while Intercontinental Exchange is developing infrastructure for blockchain based trading of stocks and exchange-traded funds.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.