Kraken partners with Trust Wallet to debut tokenized stocks on xStocks platform
In a significant move for the digital asset market, Kraken, a renowned cryptocurrency exchange, has partnered with Trust Wallet to expand access to its tokenized equities product, xStocks. This integration allows Trust Wallet users to trade 60 different xStocks.
Kraken Co-CEO Arjun Sethi described the development as a major shift, stating it brings tokenized equities "directly into the hands of millions." Kraken has reported strong demand for its tokenized equity offering since launch, with over $4 billion in combined trading volume.
The service supports local fiat currencies and offers crosschain accessibility across Solana, Ethereum, and BNB Chain. This crosschain accessibility is considered a "public good" in tokenized markets by Kraken.
However, the rollout covers most EU states but excludes several key markets, resulting in a narrower available user pool. Notably, xStocks are unavailable in the United States, United Kingdom, Canada, and Australia due to geographic restrictions.
Trust Wallet CEO Eowyn Chen highlighted the partnership's importance, stating it bridges Web3 tools with traditional financial markets. Backed co-founder Adam Levi emphasized the importance of interoperability, ensuring a seamless user experience.
Ross Shem of Stobox stated that regulation, not technology, defines eligibility for trading tokenized securities. As of now, the German federal government or relevant authorities have not issued any public official statement or regulatory position specifically regarding the trading of tokenized stocks from Kraken on the German market.
Kraken aims to provide tokenized equities to over 200 million Trust Wallet users worldwide. The trading volume includes activity on both centralized and decentralized exchanges, marking an important step toward broader mainstream adoption by Kraken.
The Kraken-Trust Wallet integration is seen as an important step toward broader mainstream adoption by Kraken, with Ross Shem of Stobox noting the partnership's potential to bring tokenized securities to a wider audience.
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