--- description: Kraken teams up with Backed and the Solana Foundation to launch tokenized U.S. equities for non-U.S. clients. title: Kraken Partners With Backed, Solana Foundation to Offer Tokenized U.S. Equities - UPay Blog image: https://blog.upay.com/wp-content/uploads/2025/05/Kraken-2.jpg --- [Skip to content](#content) # Kraken Partners With Backed, Solana Foundation to Offer Tokenized U.S. Equities - [![Picture of Chinedu Agbakwusi](https://secure.gravatar.com/avatar/ff779d1fe49f44742f93bc9e530ed447cd134cb1067131de97f45d096f615cb2?s=96&d=mm&r=g) Chinedu Agbakwusi](https://blog.upay.com/author/chinedu/) - [May 22, 2025](https://blog.upay.com/2025/05/22/) - 11:20 pm - Categories: [News](https://blog.upay.com/category/news/) ![](https://blog.upay.com/wp-content/uploads/2025/05/Kraken-2.jpg) Crypto exchange Kraken [announced](https://www.businesswire.com/news/home/20250522493630/en/Kraken-Partners-with-Backed-to-Launch-xStocks-on-Solana-Bringing-Tokenized-Equities-to-the-Masses) Thursday a partnership with tokenized asset firm Backed and the Solana Foundation to introduce tokenized U.S. equities to select non-U.S. markets through the Solana blockchain. The initiative was unveiled during the Solana Accelerate event. Through the partnership, Kraken will provide eligible clients outside the United States access to digital versions of U.S.-listed stocks and exchange-traded funds (ETFs). The assets will be available via xStocks, a new brand launched by Backed, offering onchain exposure to traditional equities. ## xStocks to Launch on Solana Blockchain Backed will issue digital representations of equities in the form of SPL tokens on the Solana blockchain. Kraken will be the first exchange to support trading of xStocks, citing Solana’s speed, scalability, and active developer community as reasons for the chain’s selection. The tokenized equities aim to offer around-the-clock access to stocks typically traded within limited market hours. While xStocks are initially limited to Kraken users in select jurisdictions, expansion to additional regions and platforms is planned. Solana Foundation’s Head of Partnerships, Amelia Daly, said the initiative aligns with the organization’s goals of creating ***“global, 24/7, permissionless access to the financial system.”*** ## **Broader Push Toward Onchain Financial Products** The move is part of a broader trend by Kraken to expand access to equities-related products. In April, the company introduced traditional stock and ETF trading for U.S. clients, covering more than 11,000 listed instruments. Kraken has stated its intent to extend these services to markets in Europe, the U.K., and Australia. Adam Levi, cofounder of Backed, described the xStocks platform as a bridge between traditional and decentralized finance, enabling new forms of investment access. The firm views tokenized equities as public infrastructures, intended for use across multiple exchanges and chains. Kraken and Backed indicated plans to explore additional blockchain [integrations](https://blog.upay.com/kraken-launches-regulated-crypto-derivatives-in-europe/) beyond Solana, signalling a longer-term strategy to increase access to equity markets via tokenization. No timeline has been confirmed for expansion or listings on other platforms. **Related News:** [Toncoin bridge shutdown](https://blog.upay.com/toncoin-bridge-to-shut-down-on-may-10-as-network-matures/) ![Chinedu Agbakwusi](https://secure.gravatar.com/avatar/ff779d1fe49f44742f93bc9e530ed447cd134cb1067131de97f45d096f615cb2?s=100&d=mm&r=g) [Chinedu Agbakwusi](https://blog.upay.com/author/chinedu/) Chinedu Agbakwusi is a crypto enthusiast and writer who has devoted quality time to sourcing, reporting, and following up on trends in the crypto space. Aside from reporting news, he is also a medical student pursuing an MBBS degree.  [Behance](http://erviovmrevomever[) [Github](http://erwrvtnweprinvtprt) [Reddit](http://rvrvwnjtkvnkrjenjkvr) [Rss](http://554nio23ni45g3) [User email](mailto:chineduagbakwusi@gmail.com) **Disclaimer:** This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence before making any trading or investment decisions. 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