Kraken Brings $2.5 Billion xStocks to Tron Blockchain

- Kraken partners with TRON DAO and Backed to bring tokenized equities to the Tron blockchain. - Combined trading volume for xStocks surpasses $2.5 billion since launch in June 2025. On August 20, 2025, The Block reported that Kraken has expanded its $2.5 billion tokenized xStocks offering to the Tron blockchain, marking a new milestone in bridging traditional equities and decentralized finance. This collaboration with TRON DAO and the tokenization startup Backed makes equities like Apple, Nvidia, and Tesla more accessible, allowing investors to trade these stocks as TRC-20 tokens on the Tron network. In addition, the initiative offers 24/7 trading, bypasses brokerage barriers, and integrates seamlessly into the DeFi ecosystem. Backed ensures compliance as it deploys xStocks to the Tron blockchain as TRC-20 tokens, which are backed on a 1:1 basis with the underlying equities. To meet regulatory requirements, Backed structures the tokenized stocks as debt instruments; however, this structure excludes shareholder rights, such as voting. This collaboration mirrors Kraken's previous expansions to Solana and BNB Chain and emphasizes decentralized financial solutions. Since debuting in late June 2025, xStocks have reached over $2.5 billion in trading volume across both centralized and decentralized platforms. On August 20, Tron founder Justin Sun said in a statement that tokenized equities are a “natural evolution for crypto” that accelerates the fusion of blockchain technology with traditional financial markets. As a result of this integration, eligible users will soon be able to directly deposit and withdraw xStocks on the Tron network. As of 17:13 UTC on August 20, Tron (TRX) was trading at $0.35, marking a 0.593% change in 24-hour trading volume, according to market data.