xStocks Expands to the TRON Blockchain

Kraken and Backed Announce Strategic Partnership with the TRON DAO to Broaden Access to Tokenized Equities

We’re proud to announce the next step in the global expansion of xStocks – the industry standard for tokenized equities. In partnership with Backed, Kraken is collaborating with the TRON DAO to integrate xStocks with the TRON blockchain, opening up new opportunities for tokenized equities exposure across one of the world’s most active and scalable blockchain ecosystems.

TRON’s high throughput, low-cost infrastructure and global footprint make it a natural fit for the next phase of xStocks’ evolution. In the coming weeks, Kraken clients in eligible jurisdictions will be able to deposit and withdraw xStocks directly through the TRON ecosystem, enhancing accessibility and optionality for users worldwide.

As part of the integration, Backed will deploy xStocks on TRON as TRC-20 tokens, maintaining full 1:1 backing for each tokenized asset listed on Kraken’s platform. The integration will allow xStocks to be broadly accessible within the TRON ecosystem, enabling tokenized equities to reach a wider audience and ecosystem of builders and users.

“Expanding xStocks to three blockchains in under 60 days shows what’s possible when you design for openness from the start,” Arjun Sethi, Kraken’s co-CEO. “TRON’s scale, low fees, and global reach make it a strong addition to our multi-chain architecture for tokenized equities. Every xStock is fully collateralized, on-chain, and verifiable in real time. This integration moves us closer to a world where equities trade like the internet works — permissionless, borderless, and interoperable across ecosystems.”

“This collaboration highlights how TRON’s decentralized network can bring tokenized equities into a more open, transparent, and accessible environment,” said Justin Sun, Founder of TRON. “Tokenized equities represent a natural evolution for crypto, bridging traditional markets with blockchain. As demand for popular equities meets a global base of previously excluded users, we’ll see a more efficient, flexible, and accessible market.”

“xStocks’ expansion to TRON is a natural step, aligning the blockchain’s dominance in stablecoin transfers with tokenized equities, crypto’s next major use case” said Adam Levi, Backed’s co-founder “Millions around the world already use TRON’s low-cost, high-throughput infrastructure for tokenized US dollars. Now, they’ll be able to do the same with tokenized equities.”

Extending xStocks support to the TRON blockchain is a continuation of our mission to bring traditional equities on-chain and extend access to capital markets for communities around the world. xStocks are currently available to Kraken clients in over 140 countries, with support coming for additional countries in the coming weeks.

Since inception, xStocks has been designed to meet users where they are, offering a transparent, open, and borderless pathway to U.S. capital markets. Launched in late June, xStocks have already surpassed $2.5 billion in combined CEX and DEX volume, underscoring market appetite for this new asset class and a powerful indicator of its long term growth.

Looking ahead

The integration with TRON marks another important milestone in the growth of xStocks and builds on the momentum from recent announcements involving BNB Chain, as well as our initial launch with Solana, Kraken’s blockchain launch partner for xStocks.

Our multi-chain strategy reflects a core belief: tokenized equities should be open, permissionless, and interoperable across ecosystems, giving users the freedom to access markets on the chains they trust.

In the weeks ahead, we will continue working with Backed to bring xStocks to additional high-performance blockchains, expanding access for Kraken clients across the world.