Kraken-backed xStocks is now live on 360X, giving Deutsche Börse Group customers access to tokenized versions of key stocks on a regulated secondary exchange venue. The move marks the first major product milestone under a partnership between Kraken and Deutsche Börse Group announced in December.
According to the company, 360X participants can trade five xStocks products for stablecoins: CRCLx, GOOGLx, NVDAx, SPYx, and TSLAx. The venue operates under the supervision of BaFin and ESMA and plans to expand the xStocks range over time.
This listing aims to expand access to the xStocks standard by financial institutions and support further growth in trading volumes and unique holders.
xStocks was launched last year and has reportedly reached nearly $20 billion in total trading volume since then. Each token is backed 1:1 by an underlying asset or ETF held by a licensed custodian in a bankruptcy-isolated structure.
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The product is designed to combine on-chain payment capabilities with safeguards familiar to institutional investors, and can operate in centralized and decentralized environments.
Mark Greenberg, global head of consumer and vice president of product at xStocks, emphasized that there is demand from investors for digital products that track established markets.
“The rapid adoption of xStocks reflects strong global demand for digitally native products that provide exposure to established financial markets,” Greenberg said. “Integration with a leading distribution channel like 360X means Deutsche Börse Group customers have access to one of the most liquid ecosystems for tokenized financial products.”
Aiming for 24-hour trading
He added that the integration with 360X will give Deutsche Börse Group customers access to a liquid ecosystem of tokenized financial products, enabling 24-hour trading with instant settlement.
Carlo Kelzer, CEO of 360T and 360X and Global Head of Foreign Exchange and Digital Assets at Deutsche Börse Group, said the listing of xStocks is an important milestone for 360X. He explained that this is a core element of the group’s partnership with Kraken and the basis for institutional trading of tokenized securities as digital assets and traditional markets converge.
The partnership between Kraken and Deutsche Börse Group spans foreign exchange, custody, payments and tokenized assets. The companies aim to combine regulated market infrastructure with crypto-native capabilities for institutional investors. 360X xStocks are not available to US customers.