Kraken has launched its new xStocks service in the European Union. Users from the EU can now buy tokenized US stocks and exchange-traded funds (ETFs) directly through the exchange’s app. Trading is available 24 hours a day, 5 days a week, with the option for users to self-custody their assets.
The platform is built on the Solana blockchain with the participation of the company Backed. At launch, the service offers more than 60 instruments, including stocks and ETFs. The company stated that it plans to expand support for multichain infrastructure to make access to US assets even easier.
Focus on Speed and Cost Reduction
In traditional brokerage systems, settlement of securities transactions can take up to two business days. On xStocks, operations are carried out faster thanks to blockchain technology. Kraken emphasizes that tokenized stocks provide clients with faster settlement and lower fees compared to traditional brokers.
Users receive assets that can be moved between wallets, not just held inside the platform as is usually the case on classical stock markets.
According to the press release, the Kraken app with xStocks support is already available for all eligible clients in Europe. The full list of assets available on the platform is published on the company’s official website.
Read also:
- Kraken Secures MiCA License From Ireland’s Central Bank
- Kraken to Launch 24/7 Trading of Tokenized Apple, Tesla, and Nvidia Stocks
- Bunq Launches Crypto Trading in Partnership with Kraken
This post is for informational purposes only and is not advertising or investment advice. Please do your own research before making any decisions.