Kraken Opens Jersey Mike's IPO Subscription and Tokenized Stock Application to Retail Investors
2026-07-28 16:29
Odaily Odaily Planet Daily News: Crypto exchange Kraken has opened subscription for Jersey Mike's planned IPO to retail investors. Eligible U.S. users can apply to subscribe to book-entry shares at the IPO price, while users in over 110 countries and regions can apply for tokenized stock JMKEx.
JMKEx is backed 1:1 by the underlying stock and custodied with regulated institutions. Allocation results are determined by the IPO underwriters, and a successful allocation is not guaranteed; after the IPO completion, JMKEx will be tradable on Kraken and participating xStocks Alliance platforms 24 hours a day, 5 days a week.
Kraken stated that the tokenized stock can be transferred between platforms participating in the xStocks Alliance, on-chained, and accessed via compatible decentralized finance applications. Jersey Mike's is a U.S. sandwich chain brand with over 3,300 stores. Its expected IPO price is between $21 and $25 per share, and it will be listed on the New York Stock Exchange under the ticker JMKE.
JMKEx is backed 1:1 by the underlying stock and custodied with regulated institutions. Allocation results are determined by the IPO underwriters, and a successful allocation is not guaranteed; after the IPO completion, JMKEx will be tradable on Kraken and participating xStocks Alliance platforms 24 hours a day, 5 days a week.
Kraken stated that the tokenized stock can be transferred between platforms participating in the xStocks Alliance, on-chained, and accessed via compatible decentralized finance applications. Jersey Mike's is a U.S. sandwich chain brand with over 3,300 stores. Its expected IPO price is between $21 and $25 per share, and it will be listed on the New York Stock Exchange under the ticker JMKE.
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