We’re excited to share the next phase of xStocks’ global expansion, the trusted platform for tokenized stocks. Working alongside Backed, Kraken is joining forces with the TRON DAO to connect xStocks with the TRON blockchain. This integration unlocks new avenues for participating in tokenized equity markets, leveraging one of the world’s most active and scalable blockchain networks.
TRON’s ability to handle high transaction volumes, combined with its low transaction costs and wide-reaching global presence, makes it an ideal match for the continuing development of xStocks. Soon, eligible Kraken users will have the option to deposit and withdraw xStocks directly using the TRON network, boosting both availability and options for traders and investors globally.
Collaboration with Backed and TRON DAO
As part of this integration, Backed will introduce xStocks on TRON using the TRC-20 token standard, ensuring a full 1:1 backing for each tokenized asset listed on the Kraken exchange. The TRON DAO will also collaborate closely with partners within its ecosystem to promote wider adoption of xStocks, enabling these tokenized equities to reach a broader audience of users and developers.
Arjun Sethi, Kraken co-CEO: “The speed with which we’ve expanded xStocks to three different blockchains in under two months demonstrates the power of designing with openness in mind. TRON’s large scale, minimal fees, and widespread access makes it a great addition to our multi-chain infrastructure for tokenized equities. Every xStock is completely backed, transparently recorded on-chain, and verifiable at any time. This integration marks a significant step toward a future where equities trading mirrors the internet – open, borderless, and compatible across different platforms.”
“This cooperative venture shows how TRON’s decentralized framework can foster a more open, transparent, and easily accessible environment for tokenized equities,” stated Justin Sun, Founder of TRON. “Tokenized equities signify a natural advancement for the crypto landscape, bridging the gap between traditional financial markets and blockchain technology. As the demand for well-known equities meets a global audience that previously lacked access, we anticipate a market that is more efficient, adaptable, and user-friendly.”
Adam Levi, Backed co-Founder: “Expanding xStocks to TRON is a logical next step, combining TRON’s strengths in stablecoin transfers with tokenized equities, which represent the next significant application for crypto. Millions globally are already leveraging TRON’s affordable and high-speed infrastructure for transactions involving tokenized US dollars. Now, they can use the same infrastructure for trading tokenized stocks.”
Driving Global Access to Capital Markets
Adding TRON blockchain support for xStocks demonstrates our dedication to bringing traditional equities onto the blockchain and improving access to capital markets for communities worldwide. xStocks are currently accessible to Kraken customers in more than 140 countries, and we plan to expand to include even more countries in the coming weeks.
From its inception, xStocks has been structured to cater to users’ needs, offering a clear, accessible, and unrestricted route to participating in U.S. capital markets. Launched in late June, xStocks has already exceeded $2.5 billion in combined trading volume across centralized and decentralized exchanges, illustrating strong market interest in this emerging asset class and suggesting significant potential for future growth.
Looking ahead
The addition of TRON compatibility represents yet another significant accomplishment in the growth of xStocks and builds upon the progress from previous announcements involving BNB Chain, as well as our original launch in partnership with Solana, Kraken’s preferred blockchain launch partner for xStocks.
Our multi-chain approach reflects our firm belief that tokenized equities should be universally accessible, without restrictions, and capable of operating seamlessly across different ecosystems, providing users with the freedom to access markets on the blockchain of their choosing.
In the coming weeks, we will continue to collaborate with Backed to introduce xStocks to further high-performance blockchains, enhancing access for Kraken clients worldwide.
xStocks are not accessible to residents of the U.S. or U.S. individuals. Geographic restrictions are in place.