Kraken and Trust Wallet Forge Game-Changing Partnership to Accelerate xStocks Adoption
Two crypto titans join forces—Kraken's exchange muscle meets Trust Wallet's self-custody dominance in a move that could finally bridge DeFi with traditional markets.
The Infrastructure Play
This partnership eliminates friction points that have plagued tokenized stock trading—now users can onboard through Kraken's compliant framework while maintaining full asset control through Trust Wallet's non-custodial solution. No more choosing between security and accessibility.
Market Mechanics Shift
xStocks represent fractionalized traditional equities—think Tesla or Apple shares—tokenized on blockchain. Previously trapped in regulatory gray areas, this collaboration brings legitimacy through Kraken's licensing and Trust Wallet's 70-million-user distribution network.
The Cynic's Corner
Because what finance really needed was another layer of abstraction between investors and actual assets—though frankly, the paperwork might be cleaner than your traditional broker's settlement process.
Bottom Line: This isn't just another partnership—it's an infrastructure upgrade for the entire tokenized assets space. Watch for copycat deals within quarters as competitors scramble to match this liquidity-access combo play.
Kraken partners with Trust Wallet to boost tokenized equity trading
Crypto exchange Kraken has partnered with Trust Wallet to expand the reach of its xStocks to more users, a statement on Friday reveals.
The firm aims to reach over 200 million users globally by extending xStocks to Trust Wallet, enabling customers to trade tokenized equities offered by Backed, a provider of collateralized on-chain assets.
"Bringing xStocks to Trust Wallet places open and interoperable tokenized equities directly into the hands of millions, alongside the crypto, stablecoins and DeFi assets they already use every day," said Arjun Sethi, Kraken co-CEO. "We're accelerating the MOVE to a future where global markets operate without borders, without barriers, and with the same openness and accessibility as the internet itself."
The partnership will allow Trust Wallet users to purchase 60 different xStocks directly using local fiat currencies. Users will also be able to deposit and withdraw xStocks through major exchanges and across multiple blockchains, including Ethereum, Solana, BNB Chain, and TRON.
"This collaboration brings tokenized equities directly into the hands of millions, no brokerage account needed," said Eowyn Chen, CEO of Trust Wallet.
Kraken launched xStocks in June and has since seen the product surpass $4 billion in combined CEX and DEX trading volume. The exchange offers 60 tokenized assets, including stocks of well-known companies such as Tesla (TSLAx), Apple (AAPLx), and GameStop (GMEx).
The collaboration highlights the growing market demand for tokenized stocks, fueled by the development of crypto regulations and an increase in institutional adoption of digital assets.
Several firms have indicated interest in real-world asset (RWA) tokenization in the past few months, including Nasdaq and Coinbase, which have filed with the SEC to launch trading of tokenized securities on their respective platforms.
