Nasdaq Partners With Kraken to Build xStocks Tokenized-Equities Gateway

Equity tokenization maps traditional shares onto blockchains, potentially allowing investors to trade across borders and nearly around the clock. Nasdaq’s partnership with Kraken seeks to connect regulated securities markets with decentralized networks while giving issuers control over legal, governance and shareholder-rights arrangements.

Nasdaq said it would use Kraken’s xStocks framework to jointly build a tokenized-equities gateway targeted for launch in the first half of 2027. The companies will also introduce an “equity token design” framework intended to ensure that tokenized shares on blockchain networks remain equivalent to traditional shares in legal status, corporate governance and investor rights.