Kraken: Tokenized Stock xStocks Cumulative Trading Volume Surpasses $25 Billion

Odaily News Kraken announced that since its launch last year, the cumulative total trading volume of its tokenized stock product xStocks has exceeded $25 billion, with approximately $3.5 billion originating from trading activities on chains such as Solana, Ethereum, and TON.

Currently, the number of unique addresses holding xStocks on-chain exceeds 80,000, and the Assets Under Management (AUM) is close to $225 million. Kraken emphasized that each xStock token is fully backed 1:1 by the corresponding stock or ETF assets held by licensed custodians.

Kraken is currently advancing the transaction to acquire Backed, the issuer of xStocks.