Exchange

Kraken xStocks

xStocks are tokenized stocks issued by Backed Finance (Switzerland), backed 1:1 and tradeable on-chain. Kraken is the market leader by volume (Bybit also lists xStocks). You hold the token rather than the equity itself.

Tokenized stockA blockchain token that represents a share held by a custodian. You own the token/certificate, not the share directly.Live

What you actually own on Kraken xStocks

This hub will cover how Kraken xStocks structures stock exposure, who custodies the underlying, fees and spreads, supported countries, and the fine print that decides your rights as a holder. Detailed sections are in progress.

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Understand the model first

Real Shares vs Tokenized Stocks vs CFDsThe difference between owning a real share, a tokenized stock, and a CFD — and why it changes your rights, risks and taxes.

What Are Binance bStocks?How Binance's bStocks work — BEP-20 tokenized stock certificates backed 1:1 under ADGM — and how they differ from real share ownership and from Binance Stocks.

What Is Ondo Finance?How Ondo tokenizes real-world assets and stocks, who issues the tokens, and what backs them.

Are Tokenized Stocks Legal?The regulatory status of tokenized stocks across major jurisdictions, and what to check before you buy.