Key Points:

• Kraken, supported by Solana, launches xStocks.
• The U.S. market is originally excluded from the offering.
• Expanded tokenized market access is the goal of Backed. 
  
  

Kraken and Solana Collaborate to Launch Tokenized Equities Offering

On May 22, 2025, Kraken, in collaboration with Backed Finance and the Solana Foundation, announced the launch of “xStocks,” a tokenized equity offering.

The project is important because it democratizes access to U.S. stocks and offers round-the-clock international trading. It may change the way standard brokerage services are provided overseas.

With plans to introduce xStocks, which will feature more than 50 well-known U.S. equities, Kraken hopes to increase its market presence internationally. Because of regulatory concerns, U.S. investors are not included in the proposal. During the release, Kraken co-CEO Arjun Sethi highlighted the company’s worldwide goals, saying, “The upcoming xStocks offering marks a significant step in our effort to democratize access to equity markets globally.” 

In order to guarantee that every xStock token is equivalent to real securities, Backed Finance will own the underlying shares. Their interest in DeFi’s expanding ecosystem is demonstrated by this collaboration with Solana.

Targeting areas without access to U.S. stocks, this launch improves investment accessibility and creates opportunities for the growth of the cryptocurrency industry. Experts prioritize lowering costs and removing local impediments. The accessibility models used by financial markets may change, focusing on areas such as Asia and Europe. Kraken’s decision is indicative of a calculated entry into the tokenized securities market, which recently grew to a value of almost $65 billion. This is consistent with the increased interest in blockchain financing by institutions. Traditional broker structures may change as a result of Kraken’s success.
According to data from earlier ventures, like Binance’s tokenized equities, cautious regulatory navigation is essential, and Kraken affirms that it is giving this top priority.