Kraken has rolled out trading in over 7,000 US-listed stocks to eligible customers across the European Economic Area under its MiFID II authorization, merging traditional equities with its existing cryptocurrency and tokenized stock products. The platform now allows EEA users to hold both conventional shares and xStocks—tokenized versions backed one-to-one by underlying equities—within a single regulated account accessible via Kraken Pro and its mobile app.
The expansion follows broader industry trends as crypto exchanges push into traditional finance territory, competing with platforms like Coinbase. xStocks have already generated over 38 billion dollars in transaction volume since launch and offer unique advantages including self-custody wallet transfers and round-the-clock trading beyond standard market hours. Kraken’s Cyprus-based regulated entity Payward Europe Digital Solutions provides the service commission-free, though spreads and FX costs still apply. Further geographic expansion is planned for coming months.
FXnCO Insight
Crypto platforms offering regulated traditional equities alongside tokenized alternatives signal intensifying competition for retail brokerage market share in Europe, potentially pressuring legacy brokers on fees and accessibility.
Source: Finance Magnates