xStocks

xStocks is the next-generation framework for tokenized equities, developed through a partnership between Kraken and Backed. Fully collateralized and 1:1-backed by underlying equities and ETFs, xStocks brings publicly-listed companies and ETFs onto blockchain rails, giving global investors access to U.S. capital markets even when traditional exchanges are closed. Built for interoperability, xStocks enables the seamless transfer of real-world assets between centralized and decentralized environments, unlocking new utility across exchanges, wallets, and on-chain applications. Since launching in June 2025, xStocks has rapidly become the industry benchmark for real-world asset tokenization, powering billions in transaction volume and supporting a growing ecosystem of platforms building the future of tokenized markets.

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