Kraken Teams Up with BackedFi to Revolutionize Global Investing with Tokenized Stocks via xStocks
In a groundbreaking move, Kraken has announced a strategic partnership with Backed Finance (BackedFi) to launch ’xStocks,’ a service offering tokenized U.S. equities to investors worldwide. This initiative aims to bridge the gap between traditional finance and digital assets, providing access to over 50 U.S. stocks for markets in Africa, Latin America, Asia, and Europe—though U.S. clients are excluded due to regulatory constraints. The collaboration underscores Kraken’s commitment to expanding the reach of cryptocurrency and blockchain technology into mainstream financial markets.
Kraken Partners with BackedFi to Launch Tokenized Stocks via xStocks Service
Kraken has unveiled a strategic collaboration with Backed Finance (BackedFi) to introduce tokenized U.S. equities to investors worldwide. The new service, dubbed ’xStocks,’ will offer access to over 50 U.S. stocks, bridging traditional finance with digital asset infrastructure.
The initiative targets global markets—including Africa, Latin America, Asia, and Europe—but excludes U.S. clients due to regulatory constraints. Tokenized assets will be accessible through Kraken’s mobile app, marking a significant step toward democratizing equity ownership through blockchain technology.
BackedFi’s role as the issuer ensures regulatory compliance, while Kraken’s platform provides liquidity and distribution. The partnership reflects growing institutional demand for on-chain representations of traditional assets, a trend accelerating across crypto-native exchanges.
Kraken to Launch Tokenized US Stocks for Non-American Customers, Enabling 24/7 Trading
Kraken is expanding its offerings with the introduction of tokenized U.S. stocks, targeting non-American clients. The new initiative, dubbed "xStocks," will feature digital versions of high-profile equities like Apple, Tesla, and Nvidia, traded on a blockchain ledger. This MOVE aims to bridge the gap for international investors seeking exposure to U.S. markets, with the added advantage of round-the-clock trading.
The platform’s 24/7 availability contrasts sharply with traditional market hours, potentially attracting a new wave of liquidity. Kraken’s foray into tokenized equities underscores the growing convergence of crypto and traditional finance, as demand for seamless cross-border investment options rises.
DOJ Seizes $200M in Crypto in Largest Darknet Takedown to Date
U.S. authorities delivered a crushing blow to darknet markets with Operation SpecTor, arresting 270 suspects across nine countries and confiscating $200 million in cryptocurrency and cash. The international crackdown exposed crypto’s dual role as both an enabler and vulnerability for illicit economies.
This record-setting operation targeted fentanyl and opioid trafficking, seizing narcotics, firearms, and proceeds. The scale of seizures underscores law enforcement’s growing sophistication in tracking blockchain transactions—a trend that may accelerate regulatory scrutiny of privacy-focused crypto tools.
While no specific coins were named in the bust, the $263 million RICO case mentioned in related proceedings signals heightened legal risks for DeFi platforms. Kraken’s reported 68% transaction surge suggests darknet activity may be testing exchange compliance frameworks.
Pi Network Derivatives Debut on Kraken with Perpetual Futures Listing
Kraken has introduced perpetual futures for Pi Network (PI), marking the token’s first major derivatives listing despite its absence from top spot exchanges like Binance or Coinbase. The contracts allow traders to speculate on PI’s price movements without holding the underlying asset, offering both long and short positions.
Available on Kraken Pro, the PI perpetual futures support over 40 collateral options and integrate with 360+ markets. This provides flexibility for hedging or directional bets, catering to both PI Network optimists and skeptics. The move expands access to PI’s price action while bypassing spot market limitations.
