Kraken Expands Tokenized Securities Offering to Europe

US crypto exchange Kraken has officially launched its tokenized securities platform, xStocks, for eligible investors in Europe. This expansion follows an initial rollout in June and marks another significant step in the growing adoption of blockchain-based financial products across the region. 

Kraken’s partnership with Backed enables users to trade tokenized certificates that track popular US equities, offering greater accessibility and flexibility compared to traditional brokerage services.

Through xStocks, Kraken’s European clients can now trade tokenized stocks 24/5, enjoying extended trading hours without relying on conventional brokers or intermediaries. Users can also move assets freely across compatible platforms or self-custody their holdings, providing more control over their investments. 

A Growing Trend Across Europe

The move reflects the growing demand for tokenized assets, with other major players already in the market.

For instance, another US-based exchange, Gemini, expanded its offerings in the EU with tokenized versions of US stocks such as MicroStrategy (MSTR). 

Similarly, Robinhood launched its own tokenized equities for European users in June 2025, providing commission-free trading of over 200 stocks and ETFs, including big names like Nvidia, Apple, and Microsoft. These offerings are powered by blockchain partnerships like Arbitrum.

Assetera, an Austrian platform, also supports crypto exchanges by offering regulatory-compliant tokenized stock solutions through its xStocks platform. These efforts aim to integrate traditional finance with blockchain technology while ensuring adherence to regulatory frameworks.

Nasdaq Eyes the Tokenized Market

The growing popularity of tokenized stocks has not gone unnoticed by traditional players. On Monday, Nasdaq, the world’s second-largest stock exchange by market capitalization, filed with US regulators to explore entry into this emerging sector. 

Nasdaq emphasized that tokenized securities should be listed on established exchanges rather than fragmented platforms, reflecting concerns about US-issued tokenized stocks gaining traction in Europe.

Industry experts believe that tokenized securities will soon reshape the investment landscape in Europe and beyond.