Introduction
In a groundbreaking development for blockchain-based finance, two leading crypto exchanges—Kraken and Bybit—announced listings of tokenized U.S. stocks within hours of each other. These launches signify a pivotal shift toward bridging traditional equities with decentralized finance (DeFi), offering global investors seamless access to Wall Street assets via crypto-native instruments.
Key Highlights
- Kraken debuted 60 tokenized equities under its xStocks brand, powered by Swiss issuer Backed, including giants like Apple, Tesla, and ETFs such as SPY.
- Bybit followed suit, integrating the same xStocks product on its Spot platform, supporting both Ethereum (ERC-20) and Solana (SPL) standards.
- Both platforms emphasize 24/5 trading, DeFi compatibility, and accessibility for non-U.S. users.
Kraken’s Decentralized Equity Vision
Kraken’s xStocks are built on the Solana blockchain, enabling users to:
- Trade on the exchange.
- Withdraw to self-custody wallets.
- Use as collateral across DeFi protocols—a feature unmatched by traditional stocks.
“For the first time, people worldwide can own and use tokenized stocks like money—moving, holding, or borrowing against them without intermediaries.”
— Arjun Sethi, Kraken’s Co-CEO.
The exchange plans to expand to 185+ countries, with multi-chain support forthcoming.
👉 Discover how tokenized stocks redefine investing
Bybit’s TradFi-Crypto Bridge
Bybit’s integration aligns with its broader TradFi expansion, which includes:
- Forex and CFD trading.
- Gold and commodities.
Emily Bao, Bybit’s Head of Spot, noted:
“xStocks empower users with greater choice and flexibility—all within Bybit’s secure ecosystem.”
Why Tokenized Stocks?
Tokenization unlocks unique advantages:
- Fractional Ownership: Invest in high-value stocks with minimal capital.
- On-Chain Mobility: Transfer assets seamlessly across platforms.
- 24/5 Trading: Break free of traditional market hours.
Robinhood’s Crypto Ambitions
Separately, Robinhood revealed plans to:
- Launch tokenized stock trading.
- Develop a blockchain network on Arbitrum.
FAQ
Q1: Can U.S. investors access xStocks?
A: No—currently available only to non-U.S. users.
Q2: Which blockchains support xStocks?
A: Initially Solana (Kraken) and Ethereum/Solana (Bybit).
Q3: How do tokenized stocks differ from traditional ETFs?
A: They offer DeFi utility (e.g., collateralization) and instant settlement.
Conclusion
Kraken and Bybit are pioneering financial infrastructure innovation, merging TradFi with crypto’s efficiency. As tokenization gains momentum, expect more exchanges to join this on-chain equity movement.
👉 Explore the future of tokenized assets