Kraken Launches xStocks, Bringing 60 Tokenized U.S. Equities Onchain

Kraken Exchange has allowed Wall Street to trade on the blockchain. “xStocks” is its new 24-hour market that lets anyone trade tokenized versions of 60 major U.S. stocks and exchange-traded funds (ETFs). Apple, NVIDIA and a lot of ETFs with underlying S&P 500 are on the list.

24/7 Access to US stocks Via xStocks on Kraken

Whenever and whatever day, traders are able to buy, sell, and rebalance their position without the typical trading hours or unnecessary payment of overnight markets.

Kraken refers to xStocks as quick and easy access to the U.S markets. Delays or limitations on order time are gone. According to its official webpage, out goes the slow, legacy clearing process that takes days to settle shares, and instead, the process is accelerated with shares turned into on-chain tokens that settle instantly.

At the moment, xStocks contains 60 U.S. equities and Exchange Traded Funds. Kraken intends to include additional ones in the future, be these smaller firms, international equities, and picky industries.

Democratizing Equity Trading

Conventionally, we have what we call the traditional assets e.g., stocks, bonds which are generally not easily purchased. They require too much funding, take a long time to be onboarded, and have limited operating times.

xStocks removes these barriers with Kraken: fractional share ownership, low paperwork to become a shareholder, and no-stop tracking of their portfolios using one Kraken account.

It also expresses the way in which DeFi and conventional finance are converging in stocks. With the desire for large institutions and even ordinary traders to have better, clearer markets, it is possible that token equities will become common.

The exchange is leading the future, not waiting to be dictated to by it, but by bringing Wall Street onchain.