Kraken Debuts Tokenized Stock Futures for Non-U.S. Traders


Crypto exchange Kraken launched perpetual futures tied to tokenized equities on Tuesday, opening the products to eligible clients outside the United States across more than 110 countries. The contracts are built on the xStocks framework, which issues blockchain-based representations of publicly traded stocks and exchange-traded funds, and offer up to 20x #leverage.


The available contracts cover major U.S. stock indexes, gold, and individual companies, including Nvidia, Apple and Tesla. Kraken described the offering as the first regulated tokenized equity perpetual futures to be listed on a derivatives venue, with clearing and execution handled through its own derivatives platform.


Unlike standard futures, perpetual contracts carry no expiry date, allowing traders to hold positions indefinitely. Kraken said the contracts reference #tokenized equity benchmarks rather than directly holding the underlying shares, extending trading access beyond the hours of traditional exchanges.


The launch builds on Kraken's December acquisition of Backed Finance AG, the issuer of xStocks. As of last week, xStocks surpassed $25 billion in cumulative transaction volume less than eight months after its initial launch, according to the company.

image
February 25, 2026 at 3:05 PM
1