TL;DR
- Unified, crypto-native margin infrastructure for tokenized stocks: Kraken Pro allows margin trading on xStocks (tokenized stocks and ETFs) using the same established margin framework which feeds its crypto markets. Traders can be long or shortaccess up to 3x leveragetrade pairs-based markets (e.g. TSLAx/USD)borrow from Kraken PDSL Margin Poolsand use account balances eligible as automatic guarantee – all in one unified single account.
- Capital-efficient multi-asset exposure without liquidating crypto: xStocks margin trading allows users to maintaining crypto holdings in cash during deployment leveraged exposure to tokenized stocks. This supports multi-asset strategiesincluding blanket, macro positioningAnd single name directional transactionsimproving capital efficiency And portfolio flexibility inside a crypto-native execution environment.
- Institutional level risk controls and margin mechanisms: The system integrates automated initial margin and maintenance requirements, real-time liquidation logic, margin fees accrued every four hours on amounts borrowed, position limits based on order book depthAnd margin pool exposure limits – deliver structured leverage and short exposure for tokenized stocks and ETFs with integrated risk management safeguards.
Trade tokenized stocks with leverage
With up to 3x leverageA familiar pairs-based trading flow and built-in risk controls, xStocks margin trading brings equity-like exposure in a crypto-native execution environment, all within a single account.
xStocks margin trading allows you to:
- Be long or short on tokenized stocks and ETFs
- Access up to 3x leverage
- Trade without selling your crypto holdings for cash
- Use existing balances as automatic guarantee
- Running in Kraken Pro’s advanced trading interface
Margin available xStocks pairs
- NVDAx – followed by Nvidia Corp.
- TSLAx – followed by Tesla Inc.
- AAPLx – followed by Apple Inc.
- SPYx – follow the S&P 500
- GOOGLx – followed by Alphabet Inc.
- GLDx – track the price of gold
- CRCLx – followed by Circle Internet Group Inc.
- QQQx – tracking the Nasdaq 100
- MSTRx – followed by Strategy Inc.
- HOODx – followed by Robinhood Markets Inc.
All margin trading is per pair (e.g. TSLAx/USD), reflecting our crypto margin mechanisms.
A unique margin system for cryptocurrencies and stocks
Traditional stock margin trading typically requires separate brokerage accounts and dedicated capital. xStocks Margin integrates tokenized stocks into the same margin infrastructure that crypto traders already use on Kraken Pro.
xStocks margin trading is built on Kraken’s established margin framework:
- Borrowed funds come from Kraken margin pools (PDSL for xStocks Margin)
- Eligible balances are automatically held as collateral while positions are open
- Margin fees accrue every 4 hoursbased on the amounts borrowed
- Positions can be closed via:
- Oppose trade (repays the loan using business revenue)
- Position swap (direct reimbursement from your balance)
For experienced crypto margin traders, the flow will immediately seem familiar. For stock traders, the mechanisms offer leverage and short exposure in a crypto-native format.
Capital efficiency without liquidation
You no longer need to sell your core holdings to gain directional exposure.
xStocks margin trading allows you to:
- Maintaining crypto positions for the long term
- Tactically deploy leverage on tokenized stocks
- Run multiple policies simultaneously
- Cover existing exposure
- Efficiently express macro or unique name views
This unlocks greater portfolio flexibility while maintaining deployed capital.
Integrated risk management
Our infrastructure integrates several guarantees against risks:
- Automated initial and maintenance margin requirements
- Real-time liquidation logic
- Position limits based on order book depth
- Exposure controlled via margin pool caps
These mechanisms are designed to maintain market integrity while allowing active participation.
Expansion of multi-asset trading on Kraken Pro
With xStocks margin trading, we strengthen our position as a unified platform for active traders:
- Crypto margin traders expand into tokenized stocks
- Spot xStocks traders seek capital efficient leverage
- TradFi Margin Traders Enter Digital Asset Markets
Crypto and stocks. A margin account. One platform. More flexibility.
For advanced traders who demand quality execution, leverage, and access to multiple assets, Kraken Pro now offers them in a single environment.
Leverage increases risk and may not be suitable for all investors. Margin fees fluctuate based on demand and are charged every four hours on amounts borrowed. Margin on xStocks is offered to eligible Kraken clients 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. Not available in the United States and other geographic restrictions apply. The availability of margin trading services is subject to certain limitations and eligibility criteria. Margin trading carries an element of risk and may not be suitable for everyone. Read Kraken Margin Disclosure Statement to find out more.
