Kraken has introduced tokenized equity perpetual futures, giving non-U.S. clients in more than 110 countries continuous leveraged access to leading U.S. equities, indices, and gold. The new offering is built using the exchange’s xStocks framework and is available on Kraken and Kraken Pro platforms.
Tokenized Access to Equities
The perpetual futures track tokenized versions of major benchmarks and companies, including the S&P 500 (SPYx), Nasdaq 100 (QQQx), gold (GLDx), Apple (AAPLx), Alphabet (GOOGLx), Nvidia (NVDAx), Tesla (TSLAx), Robinhood (HOODx), and others.
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Crypto derivatives venues such as Binance and BitMEX already list equity‑style perpetual futures tied to names like Tesla and major U.S. indices, giving traders 24/7, leveraged exposure to stock prices using crypto margin. What sets Kraken’s product apart is the combination of 1:1‑backed tokenized equities (xStocks), regulated benchmarks, and a more tightly regulated structure around the underlying tokenized shares, rather than simply mirroring stock prices via cash‑settled crypto derivatives.
According to the exchange, each xStock is fully collateralized and backed 1:1 by the underlying asset, allowing them to trade on-chain 24/7, even when traditional exchanges are closed.
The tokenized equity perpetuals allow traders to open or close positions at any time, with leverage of up to 20x. The instruments operate with regulated benchmarks and support a range of trading strategies, including directional, event-driven, and hedging positions.
Expansion Plans
Kraken said it will broaden its xStocks offering in the coming months to include more tokenized equities and ETFs, as well as expand access in additional markets. The move aims to make equities a 24/7 global asset class by combining regulated derivatives with on-chain trading infrastructure.
