TL;DR
- xStocks are tokenized US stocksbacked 1:1 by the underlying stock, available to partners via Kraken’s existing spot and futures APIs.
- Partners can offer spot trading and perpetual futures (until 20x leverage) on names like Apple, Nvidia, Tesla, SPYx and QQQx, alongside crypto, with no new infrastructure or accounts required.
- THE Kraken API Partner Program pay lifetime commissions this scale as partner trading volume increases in crypto and tokenized stocks.
The lines between crypto and traditional markets have been blurring for some time: influxes of Bitcoin ETFs, institutional desks trading both asset classes, a generation of traders who move fluidly between stocks and crypto without thinking twice.
If you use a terminal or trading platform that offers advanced order management, analysis tools, and multi-site portfolio monitoring, traders in your ecosystem are already feeling it.
They want exposure to Apple and Nvidia alongside BTC and ETH. They want to hedge a crypto position against a macro view on stocks. They want to do everything in one place, without changing platforms or maintaining separate accounts.
Most platforms can’t offer them that today. This is the address of the xStocks gap.
Tokenized US Stocks Designed for Permanent Crypto Trading
xStocks are tokenized representations of US stocks and ETFs, backed 1:1 by the underlying stock.
Partners can offer perpetual spot and futures trading with up to 20x leverage across tokenized equity markets, including major indices, gold-backed ETFs, and individual names such as Apple, Nvidia, Tesla, SPYx, and QQQx.
For traders, this means they can manage exposure to cryptocurrencies and tokenized stocks from the same account, through the same interface, using the same execution logic. No new accounts. No additional friction. No reason to look elsewhere.
Every asset class you can’t offer is a reason for traders to leave
The terminals and trading platforms that retain knowledgeable traders over the long term are not necessarily those with the most features. They are the ones who continue to expand what their users can access without forcing them to go elsewhere to do it.
Every asset class you can’t offer is a reason for an engaged user to open an account on another site. Once this happens, the relationship begins to fragment. The products with the highest retention are those that have positioned themselves as the primary place to sell everything their users need to trade.
If you’re already connected to Kraken APIs, you’re closer than you think
xStocks are available through Kraken’s spot and futures APIs, so partners can move from crypto to tokenized stocks without building separate infrastructure or managing additional platform relationships.
The Kraken API Partner Program offers partners a way to offer crypto and xStocks spot and futures trading through Kraken API integrations, with lifetime commissions reflecting the enhanced connectivity and value-added tools your platform offers users.
When your users trade tokenized stocks alongside crypto, this activity contributes to your commission level.
Note: US CME futures are not included
Most platforms have not yet evolved on this point
Most platforms have not yet evolved on this point. Traders who want access to multiple assets are already there: they are simply working around the limitations of the tools they currently use.
xStocks via Kraken APIs makes it easy to bridge this gap. The Kraken API Partner Program is open to trading terminals and platforms offering advanced order management, analytics tools and multi-location portfolio monitoring. If expanding your platform’s market access is on your roadmap, it’s worth taking a look.
Geographic restrictions apply.
These materials are intended for general information purposes only and do not constitute investment advice or a recommendation or solicitation to buy, sell, stake or hold any crypto-asset or to engage in any specific trading strategy. Kraken makes no representations or warranties of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of this information and shall not be liable for any errors, omissions or delays in this information or for any loss, injury or damage resulting from its display or use. Kraken does not and will not endeavor to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are not; In any event, Kraken may or may not be required to be registered or otherwise authorized to provide specific products and services in each market, and you may not be protected by government compensation programs and/or regulatory protections. The unpredictable nature of crypto-asset markets can result in losses of funds. Tax may be payable on any returns and/or increases in the value of your cryptoassets and you should seek independent advice on your tax situation. Geographic restrictions may apply. See legal notices for each jurisdiction here.
xStocks are issued by Backed Assets (JE) Limited (a Jersey limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company authorized to carry out digital asset business by the Bermuda Monetary Authority. xStocks are not and will not be registered with any local securities regulator. PDSL (Kraken) does not provide investment advice. Individual investors should seek independent professional advice as to the suitability of any investment, including potential tax treatment. Investing in xStocks involves an element of risk. Past performance is no guarantee of future results. Not available in the United States or to U.S. persons. Geographic restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks and the base prospectus and associated final terms for xStocks at to learn more.
xStocks Perps are offered to eligible Kraken customers through Payward Digital Solutions Ltd. (“PDSL”), a company authorized to carry out digital asset business by the Bermuda Monetary Authority. Neither this product nor xStocks are or will be registered with any local securities regulator. Trading derivatives involves a high level of risk and may not be suitable for all investors. You risk losing more than your initial investment. This is not investment advice. Not available in the United States and other geographic restrictions apply.
For full terms and conditions, please refer to Kraken’s Terms of Use.
