After Coinbase announced its entry into the tokenized stock market, Kraken is also set to engage in tokenized stock trading. The current plan has been confirmed, with the U.S. stock tokenization platform xStocks, backed by Backed, responsible for putting stocks on the blockchain.

Then Kraken will offer spot and futures trading support.

The former is a stock tokenization platform invested in by Coinbase, and according to industry peers, in addition to Kraken, another leading firm is also collaborating with xStocks.