Tokenized Stock Trading Launches on Kraken, ByBit and Solana

The official xStocks website promises some differences in its tokenized stocks offering compared with traditional markets, including 24/7 trading, freely transferrable assets, a lack of commissions (promised on Kraken) and DeFi support.

Bybit — the second-largest crypto exchange by trading volume according to CoinMarketCap data — also announced that it supports xStocks. The exchange said onchain settlement will be near-instant, and the tokens will be backed one-to-one by real shares.

Bybit also claims that the offering is compliant with the European Unions Markets in Financial Instruments Directive II (MiFID II). It added that future support for dividends is under consideration.

XStocks are also available on Bybits TradFi and Byreal platforms, which cater to hybrid and traditional asset trading.

Kraken — one of the oldest still active crypto exchanges — similarly announced support for xStocks. “Say goodbye to unfair delays, trading limits, time-zone issues, and complex signup,” it said.

Stocks: now on DeFi

The Backed Finance announcement said xStocks are “DeFi-ready” and already integrated with leading Solana protocols. The team promised that starting today, it will be possible to access xStocks on DeFi protocols Kamino, Raydium and Jupyter.

Support for xStocks has also been added to Solanas Phantom wallet, though full functionality is still being rolled out.

With this integration, stocks can now be used to provide liquidity on Raydium, be traded on Jupiter or swapped to and from Kamino. In other words, stocks are now being integrated into Solanas DeFi ecosystem, which has a current total value locked of $8.56 billion, according to DefiLlama.