Kraken rolls out xChange engine to power tokenized stock markets

Kraken's tokenized equities platform, xStocks, has introduced xChange, a new onchain trading engine designed to facilitate the trading of tokenized stocks across the Ethereum and Solana networks. This system supports over 70 tokenized equities, which are backed 1:1 by underlying shares held in custody, aiming for prices that track the corresponding public market stocks. Since its launch in June, xStocks has seen significant activity, including $3.5 billion in onchain transaction volume. This development follows Kraken Financial receiving a master account from the Federal Reserve Bank of Kansas City, granting it access to the Fedwire network. Kraken is entering a growing field, as other major players like Coinbase, Intercontinental Exchange (owner of the NYSE), the London Stock Exchange Group, and Nasdaq are also developing infrastructure to support the trading and settlement of tokenized real-world assets, including equities.

(Source：Cointelegraph)