Kraken xStocks Lineup Passes 1,000 Tokenized Instruments
Kraken's xStocks catalog counts more than 1,000 instruments as of October 22, 2026, a more than sevenfold jump from 131 in its September 18 FAQ. Pre-expansion volume topped $40 billion with 300,000+ holders. US, UK and Canada remain excluded.
More than 1,000. That is the size of Kraken's xStocks catalog as of October 22, 2026, up from 131 in Kraken's September 18 FAQ. A more than sevenfold jump in about five weeks.
The product launched in June 2025 with 60 assets. xStocks are tokenized versions of US equities and ETFs, each backed 1:1 by the underlying stock or fund held in regulated custody. They track price but carry no shareholder rights.
Volume and holders predate the expansion
The latest usage figures date to September 2026 and do not capture the new listings:
- Cumulative transaction volume: above $40 billion
- Backing assets: above $800 million
- Unique holders: more than 300,000
Those numbers describe a catalog of roughly 131 instruments. Whether volume and holder counts scale with the wider menu is the next data point to watch.
How the tokens work
The tokens are issued across several blockchains, including Solana, Ethereum and BNB Chain. Certain xStocks support 24/7 trading on Kraken Pro, and fractional purchases are available. Users can withdraw tokens and deploy them in DeFi applications, a feature Kraken has pushed with its xStocks vaults for DeFi yield on tokenized equities.
Access is limited. xStocks are available to eligible clients in more than 110 countries. US persons are excluded, as are several other jurisdictions, including the UK and Canada.
Risks and limits
The 1:1 model rests on trust. Holders rely on the issuer and custodian to keep the underlying shares in regulated custody as described. No shareholder rights also means a token is a price-exposure instrument, not equity ownership.
The exclusions matter commercially too. Shutting out the US, UK and Canada puts much of the world's investing population beyond reach, and a change in their stance on tokenized securities could shift the addressable market quickly.
Context
Kraken is widening distribution as well as inventory. Payward, its parent company, recently secured Full Market Approval from Dubai's VARA, with the UAE launch slated to include xStocks alongside AED trading, staking and Kraken Prime. A catalog above 1,000 gives that rollout far more to offer than the 60 assets of the June 2025 debut.
