Crypto exchange Kraken has expanded its offering to eligible customers across the European Economic Area, enabling trading of conventional US-listed stocks in the same account as tokenized equities and digital assets. The service became available on August 18 after an initial limited rollout in select countries.

Unified Access to Traditional and Tokenized Shares

Eligible EEA customers can buy and sell more than 7,000 US stocks through Kraken Pro on desktop and mobile as well as the main Kraken app. These traditional shares sit alongside more than 700 xStocks, which are tokenized versions of publicly listed equities and exchange-traded funds, plus over 600 crypto assets.

The arrangement allows users to hold conventional shares and tokenized representations of the same underlying companies without transferring funds between platforms. Kraken described the setup as unique among crypto platforms in the EEA that currently provide only one form of US equity exposure.

The exchange began introducing the feature to customers in Germany, the Netherlands and France in recent days before extending it across the full EEA. Users must accept additional terms and conditions before the equities trading function becomes active. Eligibility is not automatic for every existing account.

Regulatory Framework and Fee Structure

The stock trading service is provided by Payward Europe Digital Solutions (CY) Limited, a Cyprus investment firm authorised under the European Union’s Markets in Financial Instruments Directive II. Trades in US-listed stocks carry no trading commission, subject to the firm’s applicable terms. Spreads and foreign-exchange costs may still apply.

Kraken first entered stock trading in the United States in 2025. The EEA expansion moves its traditional equities business outside the US market while giving European clients two parallel routes to the same companies.

Growth of xStocks Product Line

xStocks launched in June 2025 and have since generated more than $38 billion in total transaction volume. As of the latest available data, the products ranked as the second-largest tokenized stock issuer by market capitalisation, with approximately $609 million, behind Ondo Finance at about $974 million.

Kraken has continued to expand the utility of xStocks. Eligible users outside the United States can post selected tokenized assets as collateral for futures positions. The platform has also added on-chain execution infrastructure and, more recently, extended shareholder voting rights to a large group of holders.

The company said it intends to take the combined traditional-stock and tokenized-equity service into additional markets over the coming months. Parent company Payward has separately outlined plans to introduce tokenized versions of equities from markets beyond the United States, beginning with Hong Kong-listed shares subject to regulatory approvals.

Tokenized equities now represent a growing share of the broader real-world asset sector. Industry figures place the segment at roughly 15 percent of the RWA market, with a combined capitalisation near $2.8 billion. Three issuers, including Kraken’s xStocks, account for the majority of that total.