Kraken’s xStocks Surpass $25B, Leading Global Tokenized Equity Markets

TLDR:

• xStocks surpass $25B in total transaction volume, reinforcing global market leadership.
• Over $3.5B in onchain activity involves 80,000 unique holders across blockchains.
• Eight of the top eleven tokenized equities by holders now use xStocks.
• xStocks support cross-chain, permissionless trading on Solana, Ethereum, and TON.

Bitcoin and crypto markets are seeing growing integration with traditional finance as xStocks reaches a major milestone. Kraken’s tokenized equities platform has surpassed $25 billion in total transaction volume across centralized and decentralized exchanges. 

The milestone reflects strong adoption, with over 80,000 onchain holders and $3.5 billion in recorded onchain activity. This growth signals that tokenized equities are moving beyond experimental infrastructure toward real, scalable markets.

xStocks Sets Benchmark for Tokenized Equity Adoption

According to a blog post, xStocks now holds the largest market share in tokenized equities globally. 

Eight of the top eleven tokenized equities by unique holders are xStocks, while 68% of the top twenty-five stocks also use the framework. The platform integrates across multiple blockchains, including Solana, Ethereum, and TON, with additional networks planned. 

Users can access, trade, and transfer assets seamlessly through exchanges, wallets, and DeFi protocols.

Each xStock remains fully backed 1:1 by the underlying stock or ETF. Custodians hold assets in bankruptcy-remote structures, ensuring ownership security. 

This model supports transparent trading and sustained liquidity across venues. The ecosystem now reports nearly $225 million in aggregate onchain assets under management.

Integration extends to both centralized exchanges like Bybit and Gate.io and decentralized platforms. This enables thousands of retail investors, professional traders, and institutions to participate globally. 

xStocks are structured for cross-chain mobility and always-on markets, reinforcing interoperability standards. The framework’s expansion continues with new assets listed monthly and growing alliance participation.

Transaction volume highlights the platform’s rapid adoption. Within under eight months, xStocks surpassed $25 billion across minting, redemption, and secondary market activity. 

Onchain adoption accounts for over $3.5 billion, emphasizing broad engagement across wallets and DeFi applications. Market participants now treat tokenized equities as live markets, not experimental infrastructure.

Driving Global Capital Market Interoperability

xStocks Alliance promotes open and permissionless tokenized equity standards. Members can move assets across platforms and chains without friction, fostering deeper liquidity. 

The alliance’s approach encourages repeated engagement, network effects, and resilient market structures. Cross-chain integration positions xStocks as a foundation for the next generation of digital capital markets.

Adoption trends demonstrate growing confidence in fully collateralized tokenized models. Retail and institutional participation continues to expand, as more platforms integrate xStocks. 

Interoperable assets reduce fragmentation and increase real-world utility. The milestone illustrates the evolving intersection between traditional U.S. capital markets and blockchain technology.

The platform’s onchain ecosystem now includes over 80,000 unique holders. Active trading across multiple blockchains highlights global demand. 

xStocks combine regulatory transparency with crypto-native infrastructure. The milestone signals maturation of tokenized equities as scalable market solutions.

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