TL;DR
- Expansion: Kraken is taking its xStocks to TRON with Backed and TRON DAO, marking its third blockchain integration in under two months.
- Impact: TRON users gain low-cost, high-speed access to tokenized equities like Apple and Tesla, with 24/7 trading and fractional ownership.
- Outlook: Building on $2.5B in volume since June, Kraken plans more blockchain rollouts to grow accessibility and global reach.
Kraken is broadening its tokenized equities service, xStocks, by integrating with the TRON blockchain in partnership with Backed and the TRON DAO. This development represents the third blockchain integration for xStocks in less than 60 days, after its launches on Solana and BNB Chain. The goal of this expansion is to utilize TRON’s high transaction speed, low costs, and worldwide accessibility to enhance the availability of tokenized equities for traders and investors around the globe.
xStocks are coming to #TRON 🤝
🔜 Deposit & withdraw TRC-20 xStocks on Kraken via @xStocksFi + @trondao.https://t.co/1kHcIBi0KF
— Kraken (@krakenfx) August 20, 2025
Partnership Details and Deployment
Backed is set to launch xStocks on the TRON network as TRC-20 tokens, guaranteeing that each asset is completely backed at a 1:1 ratio. The TRON DAO will collaborate with ecosystem partners to incorporate xStocks throughout its network, expanding access to tokenized equities. Kraken clients in eligible regions will soon be able to deposit and withdraw xStocks directly via TRON, adding another layer of flexibility to the platform’s multi-chain strategy.
Market Context and Asset Coverage
xStocks monitors well-known stocks like Apple, Nvidia, and Tesla. They allow for round-the-clock trading, fractional shares, and compatibility with DeFi protocols. While not available in the U.S., these instruments provide global investors with access to U.S. markets without traditional brokerage barriers. Structured as debt instruments for compliance, xStocks do not grant shareholder rights but offer on-chain transparency and verifiable collateralization.
Strategic Significance for TRON and Kraken
Arjun Sethi, co-CEO of Kraken, emphasized that the rapid expansion to three blockchains illustrates the advantages of building with openness in mind from the very beginning. TRON founder Justin Sun emphasized that tokenized equities bridge traditional markets with blockchain, potentially creating more efficient and inclusive financial systems. Backed co-founder Adam Levi noted that TRON’s dominance in stablecoin transfers aligns naturally with the growth of tokenized equities.
Growth Metrics and Future Plans
Since launching in late June, xStocks have surpassed $2.5 billion in combined centralized and decentralized exchange volume. Kraken intends to persist with its multi-chain expansion, with more high-performance blockchains coming soon. This expansion reflects a broader industry trend toward tokenizing traditional assets, as other platforms, including Robinhood, explore similar offerings.
