Kraken’s xStocks Surpass $25 Billion, Lead Tokenized Equity Markets

Kraken’s xStocks platform has surpassed $25 billion in total transaction volume, a milestone reached within eight months of launch, reinforcing its position in the global tokenized-equities market ^[1][3].

On‑chain activity tied to xStocks accounts for more than $3.5 billion and involves over 80,000 unique on‑chain holders across multiple blockchains; eight of the top eleven tokenized equities by holder count now use xStocks ^[1][2].

Reports note rising liquidity and expanding cross‑venue trading for blockchain‑based versions of U.S. stocks, as on‑chain wallets and broader market participation increase around tokenized equities ^[3][4].

The $25 billion volume milestone and growing on‑chain metrics underscore accelerating adoption of tokenized equities, with Kraken’s xStocks cited as a leading platform in recent industry coverage ^[1][3][4].