**Kraken Partners with Trust Wallet to Expand Access to Tokenized Equities via xStocks**
Crypto exchange Kraken, the main distribution partner for Backed’s tokenized equities product xStocks, has announced a strategic partnership with Trust Wallet, one of the world’s largest self-custody crypto wallets. This collaboration aims to extend the reach of tokenized equities to a broader user base globally.
In a Friday announcement, Kraken revealed that it is bringing interoperable tokenized equities to over 200 million users worldwide by integrating xStocks into Trust Wallet. This integration allows Trust Wallet users to trade tokenized equities offered by Backed, a provider of collateralized on-chain assets.
**Wide Range of Supported Assets and Chains**
Trust Wallet users will be able to buy and hold 60 different xStocks using a variety of local fiat currencies. Moreover, the integration supports deposits and withdrawals across multiple blockchain networks, including Solana, BNB Chain, Tron, and Ethereum.
Kraken Co-CEO Arjun Sethi highlighted the significance of this collaboration, stating, “This is more than integration; it’s a paradigm shift. 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.”
**Bridging Web3 and Traditional Markets**
Kraken positioned this development as a major step towards putting tokenized equities directly into the hands of millions of users. Trust Wallet CEO Eowyn Chen emphasized that the partnership bridges the gap between Web3 and traditional financial markets.
Backed co-founder Adam Levi also stressed the importance of cross-chain accessibility, calling it a “public good” that enhances the usability and reach of tokenized assets.
**Regulatory Considerations and Geographic Restrictions**
While the announcement mentioned 200 million Trust Wallet users, not all may be eligible to trade xStocks due to varying securities regulations across jurisdictions. Securities laws differ significantly from those governing crypto tokens, requiring adherence to Know Your Customer (KYC) protocols and investor protection standards.
Ross Shem, co-founder and COO of tokenization company Stobox, pointed out that “tokenized securities are still bound by securities laws. The only thing they share with crypto is the underlying technology, not the ethos, not the regulation, not the culture.”
Kraken clarified that xStocks are not available in the United States or to U.S. persons and noted additional geographic restrictions. This indicates that the total number of eligible users for the new product is likely lower than the headline figure cited in the announcement.
Cointelegraph reached out to Kraken for further comment but did not receive a response before publication.
**Strong Demand and Regional Rollout**
Since their debut, Kraken reported that xStocks have generated over $4 billion in combined trading volume across both centralized and decentralized exchanges, signaling robust demand for access to tokenized U.S. capital markets.
The company has also expanded support to eligible clients based in the European Union. The initial rollout covers all countries except the United States, the United Kingdom, Canada, and Australia.
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*Related: Kraken met with SEC crypto task force to discuss tokenization*
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