Kraken’s tokenized equities platform, xStocks, has surpassed $25 billion in complete transaction quantity lower than eight months after launch, underscoring accelerating adoption as tokenization good points traction amongst mainstream traders.
Kraken disclosed Thursday that the $25 billion determine contains buying and selling throughout centralized exchanges and decentralized exchanges, in addition to minting and redemption exercise. The milestone represents a 150% enhance since November, when xStocks first crossed $10 billion in cumulative transaction quantity.
The xStocks tokens are issued by Backed Finance, a regulated asset supplier that creates 1:1 backed tokenized representations of publicly traded equities and exchange-traded funds. Kraken serves as a main distribution and buying and selling venue, whereas Backed is accountable for structuring and issuing the tokenized devices.
When xStocks debuted in 2025, it provided greater than 60 tokenized equities, together with shares tied to main US know-how corporations like Amazon, Meta Platforms, Nvidia and Tesla.
Kraken stated onchain exercise has been a key progress driver since launch, with xStocks producing $3.5 billion in onchain buying and selling quantity and surpassing 80,000 distinctive onchain holders.
In contrast to buying and selling that happens solely inside centralized exchanges’ inside order books, onchain exercise takes place immediately on public blockchains, the place transactions are clear and wallets can self-custody property.
Rising onchain participation suggests customers should not solely trading tokenized equities but in addition integrating them into broader decentralized finance (DeFi) ecosystems.
Kraken stated that eight of the 11 largest tokenized equities by distinctive holder depend at the moment are a part of the xStocks ecosystem, signaling elevated market share in the rising tokenized equities sector.
Associated: Kraken launches tokenized securities trading in Europe with xStocks
Tokenized shares mirror stablecoins’ early progress
Tokenization of real-world property (RWAs) stays one of many fastest-growing segments of the digital asset market, at the same time as broader crypto costs have trended decrease because the begin of the 12 months.
Tokenized RWAs have increased 13.5% in complete worth during the last 30 days, in response to business information. By comparability, the broader crypto market shed roughly $1 trillion in market worth over the identical interval.
Market observers say tokenized shares could also be experiencing their own “stablecoin moment,” a reference to the speedy early adoption that propelled dollar-pegged digital property into mainstream use.
Information from Token Terminal reveals tokenized shares reached a market capitalization of $1.2 billion in December, after being just about nonexistent six months earlier.
Associated: Crypto’s 2026 investment playbook: Bitcoin, stablecoin infrastructure, tokenized assets
Cointelegraph by Sam Bourgi Kraken xStocks Surpasses $25B in Tokenized Stock Volume cointelegraph.com 2026-02-19 21:49:46
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