Kraken Hits $5B Volume for Tokenized Stocks, Reveals Revenue Jump

Cryptocurrency exchange Kraken announced Wednesday that trading in its tokenized US equities product, xStocks, has surpassed $5 billion in combined volume since its July launch.

The platform, which is only available to users outside the United States, has also doubled its revenue.

Developed in partnership with Backed, xStocks has expanded to Europe and is now accessible in over 160 countries through integrations with wallets and exchanges like Bybit and OKX.