Crypto exchange Kraken is pushing deeper into the world of traditional finance. The company is bringing its tokenized stocks, known as “xStocks,” to the Tron network. This move expands a product designed to give global users a way to invest in the U.S. stock market using blockchain technology.
The expansion is a team effort with TRON DAO and Backed Finance. It will allow users to deposit and withdraw tokens representing U.S. stocks directly on the Tron blockchain. These new TRC-20 tokens can then be used within Tron’s decentralized finance (DeFi) ecosystem. Kraken confirmed the move on its official X account, stating, “xStocks are coming to TRON”.
xStocks are coming to 🤝
🔜 Deposit & withdraw TRC-20 xStocks on Kraken via + .https://t.co/1kHcIBi0KF
— Kraken (@krakenfx)
What Are xStocks?
Kraken first launched its xStocks in May for customers in Latin America, Asia, and Africa. These are not actual shares but digital tokens that track the price of popular stocks like Apple, Nvidia, and Tesla. They also cover exchange-traded funds (ETFs) such as the SPDR S&P 500 and SPDR Gold Shares.
Legally, these are structured as debt instruments. This means holders don’t get traditional shareholder rights, like voting in company matters. The real appeal is accessibility. Unlike stock markets that close on weekends and evenings, xStocks trade 24/7. They also allow for fractional ownership, making it easier for people to invest smaller amounts.
“Tokenized stocks represent a natural evolution for crypto, uniting traditional markets with blockchain,” said Tron founder Justin Sun. “As the demand for popular stocks meets a global base of previously excluded users, we will see a more efficient, flexible, and accessible market.”
Fast Growth and a Multi-Chain Strategy
This is not Kraken’s first stop. The xStocks were originally built on Solana. They were later expanded to BNB Chain, and now Tron is the third network to be added. This rapid rollout is part of a clear strategy to make these products available across different blockchain communities. When the product was introduced three months ago, it included over 50 tokenized stocks and ETFs.
The tokens are fully backed by the real securities, which are held in custody by Backed Finance. This allows investors to redeem the tokens for cash on a 1:1 basis. The setup combines the security of real assets with the speed and low fees of networks like Tron.
The market has responded positively. Adam Levi of Backed Finance noted that xStocks have already generated over $2.5 billion in trading volume across both centralized and decentralized exchanges since their launch. The move to Tron will let users interact with DeFi protocols like PancakeSwap and Venus.
“Expanding xStocks to three blockchains in less than 60 days shows what is possible when you design for openness from the beginning,” said Arjun Sethi, Kraken’s co-CEO.
Bridging Wall Street and Blockchain
By adding support for Tron, known for its high speed and low transaction costs, Kraken hopes to attract more users. The move is part of a larger trend of bringing real-world assets (RWA) onto the blockchain. This creates a bridge between traditional and decentralized finance, which can increase liquidity and lower barriers for investors everywhere.
This initiative shows San Francisco-based Kraken is looking beyond just cryptocurrencies. In April, the company partnered with Alpaca to offer commission-free stock trading in the U.S. But the focus on xStocks highlights a big bet on tokenization as the future of hybrid investments.
The xStocks are expected to be available on the Tron network in the coming weeks. The service remains unavailable to users in the United States.