Kraken, the crypto exchange, announced on Wednesday in a blog post that it is expanding its xStocks product to the Tron blockchain, in partnership with TRON DAO and tokenization startup Backed.
The move allows investors to trade tokenized versions of popular stocks like Apple, Nvidia, and Tesla. xStocks work as debt instruments, so holders cannot vote or exercise governance, but they gain fractional ownership, 24/7 trading, and access to DeFi.
Kraken co-CEO Arjun Sethi said, “Expanding xStocks to three blockchains in under 60 days shows what’s possible when you design for openness from the start.” By using Tron’s TRC-20 tokens, Backed ensures each token is fully backed while allowing deposits and withdrawals directly on Tron.
The platform already supports Solana through Kamino, Raydium, and Jupiter, and BNB Chain through PancakeSwap and Venus Protocol, showing Kraken’s multi-chain strategy.
Justin Sun, founder of Tron, explained, “Tokenized equities represent a natural evolution for crypto, bridging traditional markets with blockchain. As demand for popular equities meets a global base of previously excluded users, we’ll see a more efficient, flexible, and accessible market.”
Adam Levi, co-founder of Backed, added, “Millions around the world already use Tron’s low-cost, high-throughput infrastructure for tokenized US dollars. Now, they’ll be able to do the same with tokenized equities.”
Notably, Tron’s network has recently seen rising profits for its holders. According to CryptoQuant, One-week holders gained 3.8%, one-month holders earned 10.3%, and three-month holders saw 31.2% profits. Meanwhile, Coinbase’s Base network recently reached $6.6 billion in locked DeFi assets, slightly ahead of Tron in overall DeFi activity
Since launching in June, xStocks have traded over $2.5 billion on both regular and decentralized platforms. With Tron, Kraken clients can now deposit and withdraw xStocks directly on the blockchain. The platform is available in more than 140 countries, with more coming soon.
Kraken’s move into Tron reflects the rising interest in tokenized stocks and the effort to make trading simpler, faster, and more accessible worldwide. The expansion is part of Kraken’s plan to let people trade tokenized equities easily across different blockchains.
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