Kraken has added xStocks to its API Partner Program, allowing partners to offer tokenized U.S. stocks and ETFs through the same Kraken interfaces already used for crypto trading. The company said the product is available across its existing spot and futures APIs, with no need for separate infrastructure or additional account setup.
What Kraken is offering
According to Kraken, xStocks are tokenized representations of U.S. stocks and exchange-traded funds that are backed 1:1 by the underlying equity. Through the API Partner Program, partners can provide both spot trading and perpetual futures tied to these tokenized equity markets.
Kraken said the available lineup spans major indices, gold-backed ETFs, and individual names including Apple, Nvidia, Tesla, SPYx, and QQQx. The futures side includes perpetual contracts with leverage of up to 20x.
Single account, same interfaces
A central part of the launch is that partners do not need to build a separate technical stack to add the new asset class. Kraken said xStocks can be accessed through the same spot and futures APIs that partners already use for crypto products.
For end users, the company said this means crypto and tokenized equity exposure can be managed from the same account and within the same interface, using the same execution logic. Kraken framed this as a way to expand from crypto into tokenized equities without requiring new accounts or additional platform relationships.
How the partner program works
Kraken said its API Partner Program enables partners to offer both crypto and xStocks trading through Kraken APIs. The company also said partners receive lifetime commissions that scale with trading volume across both crypto and tokenized equities.
The announcement positions xStocks as an additional asset class within the existing partner framework rather than a separate product line. By keeping access inside current API rails, Kraken is presenting the offering as an operational extension for firms that already integrate with its market infrastructure.
Limits and exclusions
Kraken noted one explicit exclusion in the product description: U.S. CME futures are not part of the offering. Beyond that, the source article did not provide further details on rollout timing, eligible jurisdictions, or the full list of tokenized instruments available through the program.
The launch reflects a broader push by exchanges and trading platforms to package multiple forms of market exposure inside a single account and trading environment. In Kraken’s case, the company is using its partner-facing API program to link crypto trading with tokenized versions of traditional equity and ETF products, while emphasizing that the instruments are backed 1:1 by the underlying assets.
Source: blog.kraken.com