Kraken and Trust Wallet May Expand Access to Backed’s xStocks for 200 Million Users, Ethereum Access Could Face Limits

• Kraken extends Backed xStocks to Trust Wallet users, increasing potential reach to 200 million wallets (subject to eligibility).

• Trust Wallet users can hold 60 xStocks and deposit/withdraw across Solana, BNB Chain, Tron and Ethereum.

• xStocks have generated over $4 billion in combined trading volume across centralized and decentralized venues since launch.

xStocks tokenized equities: Kraken expands access via Trust Wallet—check eligibility and KYC rules to trade 60 assets across multiple chains. Read how to access them now.

What are xStocks and how do they work?

xStocks are tokenized equities issued by Backed and distributed through Kraken. They represent fractional, collateralized shares that trade onchain while complying with securities rules. Purchases require KYC and are subject to geography-based eligibility; custody and transfers occur across multiple blockchains.

How does the Kraken–Trust Wallet integration expand access?

Kraken announced it will extend Backed’s xStocks distribution to Trust Wallet’s user base, potentially reaching up to 200 million wallets. This integration enables eligible Trust Wallet users to buy and hold 60 different xStocks using local fiat options and cross-chain rails.

Kraken co-CEO Arjun Sethi said, “We’re accelerating the move to a future where global markets operate without borders, without barriers, and with the same openness and accessibility as the internet itself.” Trust Wallet CEO Eowyn Chen described the deal as bridging Web3 and traditional markets. Backed co-founder Adam Levi highlighted cross-chain accessibility as a “public good.”

Why aren’t xStocks available everywhere?

Regulatory constraints and securities laws limit where xStocks can be offered. Tokenized securities remain bound by local securities regulation, meaning they require Know Your Customer (KYC) and investor protections similar to traditional securities.

Ross Shem, co-founder and COO at tokenization firm Stobox, previously noted that tokenized securities “share the underlying technology” with crypto, but not the regulatory or cultural frameworks. Kraken has confirmed xStocks are not available to US persons and indicated additional geographic exclusions.

When did xStocks reach significant trading volume?

Kraken reports that xStocks have generated over $4 billion in combined trading volume across centralized and decentralized platforms since their debut. The strong early demand has prompted expanded rollouts to eligible EU-based clients and now Trust Wallet users, excluding the US, UK, Canada, and Australia in the initial rollout.

Frequently Asked Questions

How can I check if I’m eligible to trade xStocks?

Open your Trust Wallet app, review the xStocks product page, and complete any required KYC flows. Eligibility is determined by your declared residence and local securities regulation; not all Trust Wallet users will qualify.

What chains and fiat options support xStocks?

xStocks support deposits and withdrawals on Solana, BNB Chain, Tron and Ethereum. Trust Wallet will allow purchases using a variety of local fiat options where supported and where regulatory approval permits.

Key Takeaways

• Broader reach: Kraken will distribute Backed xStocks to Trust Wallet, potentially opening access to millions of wallets.
• Regulatory limits: Securities laws and KYC requirements restrict availability; xStocks are not available to US persons and several other jurisdictions.
• Cross-chain utility: Users can deposit/withdraw across Solana, BNB Chain, Tron and Ethereum and access 60 tokenized equities.

Conclusion

The Kraken–Trust Wallet partnership expands access to xStocks tokenized equities, enabling eligible users to trade 60 tokenized assets across multiple chains while remaining subject to securities regulation and KYC. Monitor official Kraken, Trust Wallet, and Backed announcements for eligibility updates and rollout timing, and complete required verification to participate.