xStocks are available to EU based clients of PEDSL-CY that have successfully completed the required appropriateness assessment or are professional investors. X-Stocks are not and will not be registered under the U.S. Securities Act and they cannot not be offered, sold or delivered, directly or indirectly, within the U.S or to, or for the account of, any U.S. Persons (as defined in Regulation S).
xStocks lets you trade the top U.S. stocks and ETFs through tokenised certificates, tracking the market price of real-world stocks and ETFs. Each xStock is backed 1:1 by the underlying stock or ETF and issued as an SPL or BNB token on-chain.
Kraken will offer access to just 60 assets – 55 stocks and 5 ETFs – including names like Tesla (TSLAx), Apple (AAPLx), and GameStop (GMEx).
xStocks can be traded 24/5, providing access outside of traditional market hours. Weekend trading availability is in development.
Investing in xStocks is not the same as investing in actual shares. xStocks do not confer shareholder rights like voting or dividends. They offer price exposure to the underlying asset, but do not carry the same rights as the actual security itself. As a holder of xStocks, you are not a shareholder in the underlying share. Instead you hold a financial instrument issued by a third party company (Backed Assets Financials (JE)) whose value is derived from the value on an underlying share.
Yes – xStock self-custody is supported by Kraken. You can withdraw your xStocks to a compatible on-chain wallet of your choice for full control.
xStocks allow clients to purchase fractional shares of assets with as little as a €1 EUR investment.
There are no trading fees when purchasing xStocks with USD on Kraken. Standard Instant Buy trading fees apply when purchasing xStocks using other assets. To lock in a price, a spread will be included in the asset price for each transaction.
xStock prices are tied to the execution price of the underlying equity. Kraken updates prices for xStocks based on the real-time equity prices when buying or selling tokens.
Dividend payouts will be automatically reinvested into more of the same token. Rather than receiving a cash dividend, your xStocks balance will increase to reflect the dividend.
Kraken and Backed utilize secure custody, audited reserves, and blockchain infrastructure to ensure the safety and transparency of xStock holdings.
Read Kraken’s xStocks Risk Disclosure at https://eu.kraken.com/legal/risk-disclosure as well as the Base Prospectus and related Final Terms for xStocks at https://assets.backed.fi/legal-documentation to learn more.
Yes - you can exit your position at any time. Inside Kraken, choose the xStock in your portfolio and tap Sell to convert the tokens back to USD at the current market-linked price. You can also withdraw your xStocks to a compatible wallet and trade or redeem them with third-party venues that support the tokens.
Direct share delivery is not offered - xStocks are tokenised certificates, not the physical stocks themselves. To switch exposure, first sell the xStock for USD, then buy another xStock asset in a separate trade.
