Cryptocurrency exchange Kraken has teamed up with Trust Wallet, a crypto wallet, to integrate Backed’s xStocks, offering users global access to tokenised US equities.
By collaborating, the companies aim to offer tokenised equities to 200 million users worldwide by expanding xStocks to Trust Wallet users.
The integration will enable Trust Wallet users to buy and hold 60 different xStocks using various local fiat currencies. It will also support deposits and withdrawals across multiple chains, including Solana, BNB Chain, Tron, and Ethereum.
As part of the partnership, Backed will continue to issue xStocks as fully centralised, on-chain tokens, ensuring 1:1 backing for each tokenised equity that a Trust Wallet user acquires. Trust Wallet’s interface and ecosystem support will ensure that tokenised equities are accessible for both retail investors and developers aiming to integrate them into DeFi and Web3 applications.
Key themes regarding the integration include:
- Accessibility, as many views tokenised equities as a breakthrough for daily investors;
- Regulatory concerns, as the service might not be accessible in certain regions like the US, UK, Canada, and Australia.
- User trust is maintained because Kraken Support will not request personal information through direct messages.
More partnerships from Kraken
Earlier in September 2025, Kraken launched tokenised securities trading in Europe with xStocks, expanding on-chain exposure to US stocks and ETFs. The European expansion came months after Kraken announced its tokenised stocks integrations with Backed on the Solana blockchain back in May, with plans to launch the solution to clients in more than 140 countries worldwide. The initial rollout covered all countries except for the US, the UK, Canada, Australia, and the EU jurisdictions.
Additionally, Kraken also partnered with Backed to expand access to tokenised equities on the Ethereum Mainnet, one of the largest blockchains. The partnership integrated xStocks into the Ethereum blockchain to unlock new opportunities for tokenised stocks and ETFs to be integrated across the smart contract network.
