Kraken is preparing for rolling out a new product with which users in selected countries outside the US can trade versions of large US shares and ETFs 24/7.
According to May 22 announcementThe offer contains names such as Apple, Tesla and Nvidia, with plans to expand the selection over time.
The announcement comes a few weeks after the Ninjatrader stock exchange has acquired in February and the subsequent extension to stock trade last month.
Xstocks
The product, dubbed Xstocks, is built in collaboration with supported and will be popular American listed assets as SPL tokens on the Solana (SOL) network.
In contrast to conventional stock markets, Xstocks will be traded 24/7 via the Platform of Kraken and compatible Solana Wallets.
The structure also makes it possible to use the tokenized assets, such as for collateral in decentralized applications, user cases that are not possible through traditional brokerage systems.
Kraken’s worldwide head of consumer Mark Greenberg said that Xstocks strives to offer faster, cheaper and more inclusive access to US shares. He also criticized the current systems as slow, expensive and geographically limited.
According to Greenberg:
‘[xStocks] is what the future of investing looks like. “
Democratization of access to American markets
The movement of Kraken builds on its recent rollout of a conventional share trading service for American customers, which includes more than 11,000 listed shares and ETFs.
The company plans to expand the service to the VK, Europe and Australia, while Xstocks represents a parallel expansion with the help of blockchain rails.
The launch comes in the midst of increased interest in Tokenized Real-World assets (RWAS), powered by the demand for open financial infrastructure and efficiency introduced by digital rails.
Kraken has not announced a specific launch date for Xstocks, but said it is planning to grow the list of supported areas of law and tokenized assets over time.