Kraken’s xStocks Launches xPoints Rewards Program to Boost Tokenized-Equity Ecosystem

Launched in June 2025, xStocks turns U.S.-listed stocks and exchange-traded funds into blockchain tokens backed one-for-one by securities held in regulated custody. The product, which is unavailable to U.S. residents, is designed to let eligible investors move and trade equity exposure across crypto exchanges, wallets and decentralized-finance applications. Expanding beyond U.S. names is significant because it tests whether tokenization can bridge capital markets still divided by national borders, currencies and trading hours.

Payward, the parent of cryptocurrency exchange Kraken, said on July 22, 2026, it had partnered with fintech infrastructure provider GTN to take xStocks into international equities, starting with Hong Kong-listed shares and later targeting the UK, Europe and South Korea. GTN will provide execution, custody and record-keeping across more than 90 markets, with distribution to institutional clients subject to local licensing. xStocks now covers more than 500 tokenized assets, has processed over $35 billion in transaction volume and has nearly 200,000 holders, according to the companies.