Overview
- Kraken announced on August 18 that eligible customers across the European Economic Area can trade more than 7,000 U.S.‑listed stocks through its MiFID II‑authorised Cyprus arm, Payward Europe Digital Solutions (CY) Limited.
- The platform places conventional brokerage shares side‑by‑side with more than 700 xStocks in a single regulated account so customers can choose between a standard share or a token that tracks the same security.
- Kraken says xStocks are backed 1:1 by underlying shares through an issuer and custody chain run by Backed Assets (JE) Limited, but token holders do not receive shareholder voting rights or direct claims on the company and dividend distributions are handled as additional token units.
- xStocks can be moved to compatible self‑custody wallets, trade on weekday 24‑hour windows outside U.S. market hours, and some tokens have been allowed as collateral for selected futures and margin positions inside Kraken’s ecosystem.
- Trading is commission‑free for qualifying EEA users subject to eligibility checks and additional terms, but customers still face spreads, FX costs, regulatory limits and custody or liquidity risks as Kraken pursues further international expansion and grows xStocks activity above $38 billion in transaction volume.