• Kraken’s xStocks tops $25B in volume with more than 80K onchain holders Blockchain-based versions of US stocks are drawing growing investor activity, with onchain wallets and cross-venue trading expanding rapidly. • Cointelegraph in your social feed Kraken’s tokenized equities platform, xStocks, has surpassed $25 billion in total transaction volume less than eight months after launch, underscoring accelerating adoption as tokenization gains traction among mainstream investors. • KrakendisclosedThursday that the $25 billion figure includes trading across centralized exchanges and decentralized exchanges, as well as minting and redemption activity. • The milestone represents a 150% increase since November, whenxStocks first crossed $10 billionin cumulative transaction volume. • The xStocks tokens are issued by Backed Finance, a regulated asset provider that creates 1:1 backed tokenized representations of publicly traded equities and exchange-traded funds. • Kraken serves as a primary distribution and trading venue, while Backed is responsible for structuring and issuing the tokenized instruments.
Article Summaries:
- Kraken’s tokenized‑equities platform, xStocks, has exceeded $25 billion in total transaction volume within eight months of launch, a 150 % jump from the $10 billion milestone reached in November. The figure includes trades on both centralized and decentralized exchanges, as well as minting and redemption activity. On the public blockchain, xStocks generated $3.5 billion in on‑chain trading and now boasts over 80,000 unique holders, indicating growing DeFi integration. The tokens, issued by regulated provider Backed Finance, represent 1:1 backed shares of major U.S. tech stocks. The surge reflects broader momentum in tokenized real‑world assets, whose market cap hit $1.2 billion in December.
Sources: