Kraken: Europe's Unified Stock & Crypto Trading
Kraken expands platform to offer regulated US stocks and xStocks across European Economic Area.
Key Points
Kraken is the only crypto-native platform in Europe offering regulated access to both US-listed stocks and tokenized equivalents (xStocks) within a single, unified account.
The U.S. stock and xStock service is provided by Payward Europe Digital Solutions (CY) Limited, a CySEC-licensed MiFID investment firm.
xStocks have generated more than $38 billion in total transaction volume since their launch in June 2025.
Kraken also offers a card with up to 2% cashback in Bitcoin or cash, with no transaction, FX, or ATM fees.
Access to stock trading in the EEA now requires accepting additional terms and conditions, with the rollout described as fully live after earlier phased introductions in Germany, the Netherlands, and France.
Kraken has launched trading in more than 7,000 U.S.-listed stocks across the European Economic Area, making it the only crypto-native platform in Europe to offer both traditional shares and tokenized equivalents in a single regulated account, according to CoinTelegraph. The service went fully live after an earlier phased rollout in Germany, the Netherlands, and France.
The expansion is powered by Payward Europe Digital Solutions, a CySEC-licensed investment firm operating under MiFID II rules. European users can now trade over 600 crypto assets, 7,000-plus U.S. stocks, and more than 700 tokenized shares — all in one account, CoinPaper reported.
One Account for Stocks, Crypto, and Tokenized Shares
Kraken's new setup lets eligible EEA customers switch between buying a real stock and its tokenized version without moving funds or switching platforms. The tokenized versions are called xStocks. Each xStock is fully backed 1:1 by the underlying share, according to CryptoNews. Users in Spain, Italy, Ireland, Sweden, Austria, Portugal, and Norway are among those now eligible.
Trading is available on both desktop via Kraken Pro and the Kraken mobile app. Where applicable, stock trading is commission-free. To get access, users must accept additional terms and conditions, CoinTelegraph noted.
xStocks Hit $38 Billion in Volume Since June Launch
Kraken's xStocks product launched in June 2025 and has already generated more than $38 billion in total transaction volume, Democrata reported. That figure signals strong early demand for tokenized equities among European retail investors.
The company says xStocks offer a key advantage: investors can hold both the tokenized and traditional version of the same company without leaving the Kraken platform. Kraken framed the feature as a major step toward blending crypto and traditional finance into one seamless experience.
MiFID II License Opens the Door to Regulated Stock Trading
Kraken's ability to offer stocks in Europe rests on its MiFID II authorization — a regulatory framework that governs investment firms across the EU. The service is provided by Payward Europe Digital Solutions (CY) Limited, which holds a CySEC license, according to CoinPaper. CySEC is Cyprus's financial regulator.
The MiFID II license puts Kraken on the same regulatory footing as traditional brokers. That is a significant move for a company that started as a pure crypto exchange. Few platforms have managed to bridge both worlds under a single regulated umbrella.
Kraken Eyes More Markets as Crypto-Finance Merger Accelerates
Kraken has signaled plans to expand stock trading access to more markets beyond the current EEA rollout, CryptoNews reported. The company also offers a debit card with up to 2% cashback in Bitcoin or cash, with no transaction, foreign exchange, or ATM fees.
The push into equities fits a broader trend. Crypto platforms are racing to offer traditional financial products as the line between crypto and conventional investing blurs. Kraken's unified account model — crypto, stocks, and tokenized shares together — could set a new standard for what a modern investment platform looks like in Europe.
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