Kraken: Tokenized stocks xStocks' cumulative trading volume exceeds $25 billion

According to The Block, Kraken stated that since its launch last year, the total trading volume of the tokenized stock product xStocks has exceeded $25 billion, with approximately $3.5 billion coming from on-chain trading activities on chains such as Solana, Ethereum, and TON.

Currently, the number of independent addresses holding xStocks on-chain has surpassed 80,000, with assets under management (AUM) nearing $225 million. Kraken emphasized that each xStock is fully backed 1:1 by corresponding stocks or ETF assets held by licensed custodians. Kraken is currently advancing the acquisition of Backed, the issuer of xStocks.