Hassan Maishera
TL;DR
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Kraken has launched traditional US stock trading for eligible customers throughout the European Economic Area.
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Users can access more than 7,000 US-listed stocks, over 700 tokenized xStocks, and more than 600 cryptocurrencies through one account.
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Stock trading will be commission-free, subject to applicable terms.
Cryptocurrency exchange Kraken has launched US stock trading for eligible customers across the European Economic Area, expanding its equities business beyond the United States.
The wider launch follows a limited rollout in Germany, France and the Netherlands. Kraken said the service is now becoming available across the EEA through its mobile and desktop platforms.
Kraken Combines Traditional Stocks and Tokenized Equities
Kraken claims it is the only crypto-native platform allowing EEA customers to trade traditional US-listed shares and their tokenized counterparts through a single regulated account.
Customers can choose between directly purchasing conventional shares and gaining exposure through xStocks, Kraken’s tokenized-equity products. Both options are available alongside the exchange’s cryptocurrency services, allowing users to move between asset classes without transferring money to another platform.
Mark Greenberg, chief commercial officer of Kraken parent company Payward and head of Payward Services, said the integrated service gives customers greater flexibility in how they access the same underlying market exposure.
Competing platforms offer parts of this model. European cryptocurrency broker Bitpanda provides access to US stocks but does not currently appear to support tokenized equities.
Crypto.com and Robinhood offer tokenized US stock products in Europe but do not appear to provide traditional share trading in the region.
Eligible EEA customers can trade more than 7,000 traditional US-listed stocks through the same account used to access over 600 cryptocurrencies and more than 700 xStocks.
The products will be available through the Kraken mobile app, the Kraken Pro app and Kraken Pro’s desktop interface.
Kraken said it will not charge trading commissions, although other costs and applicable terms may still apply.
Access will not appear automatically for every existing EEA customer. Users must meet the relevant eligibility requirements and accept additional terms and conditions before they can begin trading stocks.
MiFID II-Regulated Entity Provides the Service
The stock-trading service is offered through Payward Europe Digital Solutions (CY) Limited.
The Cyprus-based investment firm is authorised under the European Union’s Markets in Financial Instruments Directive II, commonly known as MiFID II. The regulatory framework establishes requirements for investment firms providing securities-related services across the bloc.
Operating through a MiFID II-authorised entity enables Kraken to combine conventional investments with digital-asset products while serving eligible customers across the EEA.
Kraken said xStocks have generated more than $38 billion in cumulative transaction volume since launching in June 2025.
Interest in tokenized equities has increased as investors seek blockchain-based access to traditional securities. The segment now represents approximately 15% of the real-world asset market, three times its share at the beginning of the year.
Tokenized equities have a combined market capitalisation of roughly $2.8 billion, making them one of the few real-world asset categories to record continued growth.
Ondo Finance, Binance’s bStocks and Kraken’s xStocks collectively control approximately 77% of the tokenized-equity segment.
Kraken’s expansion comes after Payward reported $508 million in adjusted revenue for the second quarter, representing a 17% increase from the previous year.
The company recorded adjusted earnings before interest, taxes, depreciation and amortisation of $23 million for the quarter ended June 30.
Total platform transaction volume declined 13% year over year to $310 billion. However, Payward said activity increasingly shifted toward traditional and tokenized equities, reflecting the company’s effort to expand beyond cryptocurrency trading.
Kraken plans to introduce its combined share-trading and tokenized-equity service in additional markets over the coming months.
