Cryptocurrency exchange Kraken has announced plans to launch tokenized versions of **Nvidia**, **Apple**, and **Tesla** shares for non-U.S. customers, marking a significant expansion of blockchain-based equity trading. The new **xStocks** tokens will enable 24/7 trading on Solana’s blockchain while bypassing traditional brokerage infrastructure.
The offering includes over 50 stocks and ETFs, with initial availability in Europe, Latin America, Africa, and Asia. Zurich-based Backed Finance will custody underlying shares and manage token redemptions at cash value, creating a bridge between conventional markets and decentralized finance.
Notable inclusions in the rollout:
- SPDR S&P 500 ETF (SPY)
- SPDR Gold Shares (GLD)
- Amazon (AMZN)
- Microsoft (MSFT)
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Kraken’s Global Equity Play
By tokenizing blue-chip stocks, Kraken aims to capture international demand for U.S. equities while avoiding regulatory hurdles in its home market. The exchange told Crypto Briefing it’s working with multiple regulators to ensure compliance, though American users remain excluded from the program.
The Solana-based tokens settle transactions in seconds compared to traditional markets’ T+2 settlement cycle. This infrastructure could reduce costs for cross-border traders who typically face currency conversion fees and international brokerage account requirements.
Nvidia’s AI Leadership Goes On-Chain
Nvidia’s inclusion comes as the chipmaker dominates AI hardware markets, with its stock rising 210% year-to-date. Tokenized NVDA shares could attract tech-focused crypto traders seeking exposure without direct stock ownership.
The structure prevents token holders from receiving dividends or voting rights but enables fractional trading. Market analysts suggest this could increase retail participation in high-priced equities like Nvidia, which currently trades above $1,000 per share.
Apple and Tesla: Mainstream Brands Meet DeFi
Apple and Tesla tokens bring two of Wall Street’s most recognizable names to blockchain traders. The move follows growing demand for real-world asset tokenization, which has surged to $12 billion in total value locked across crypto platforms.
Kraken’s product roadmap suggests eventual integration with decentralized lending protocols. This could let users collateralize tokenized Apple shares for stablecoin loans – a feature impossible in traditional brokerage accounts.
Market Impact and Regulatory Landscape
The launch intensifies competition with platforms like FTX’s former tokenized stock products and current offerings from Bittrex Global. By leveraging Solana’s low fees and Backed’s regulatory compliance, Kraken positions itself as a leader in institutional-grade crypto equity products.
Industry observers note increasing SEC scrutiny of crypto-equity hybrids could shape future offerings. Kraken’s deliberate exclusion of U.S. users appears designed to avoid repeating legal challenges faced by similar products in 2023.
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This strategic move could accelerate convergence between traditional finance and crypto markets, particularly for investors in emerging markets. As tokenization platforms mature, analysts predict 40% of global equities could have blockchain-based counterparts by 2030.
