Kraken Expands Tokenized US Stocks to EU Clients

Crypto exchange Kraken opened up trading of tokenized US securities to its customers in the European Union, expanding the reach of the nascent asset class.

Through the offering more than 60 tokenized equities — a blockchain-based certificate that promises to track the price of companies like Apple Inc., Meta Platforms Inc. and GameStop Corp. — will be made available for trading in the region. The service is powered by Backed Finance’s xStocks. The exchange first started rolling out the service elsewhere globally in May.

Unlike regular equities, tokenized shares can be traded outside of normal exchange hours and ...