Overview
- Kraken launched the feature on Sunday, July 5, 2026, allowing eligible non‑U.S. clients to pledge tokenized stocks and ETFs as collateral for futures or margin positions.
- Access is restricted by jurisdiction with EEA users able to use tokenized stocks as futures collateral and other approved non‑U.S. clients able to use them for margin trading.
- Ten assets are supported at launch including Apple, Nvidia, Tesla, the SPDR S&P 500 ETF and Invesco QQQ, and tokens are recognized automatically as collateral where those products are available.
- The exchange applies risk controls that reduce usable collateral value and limit exposure, with haircuts ranging from about 10% for broad ETFs to 30% for volatile names and per‑asset caps such as $1 million for ETFs and roughly $250,000 for most individual stocks.
- The change repurposes existing tokenized equities to boost on‑platform liquidity and capital efficiency while preserving conventional margin risks and arriving as tokenized real‑world assets expand to roughly $32.6 billion in total distributed value.