Crypto exchange Kraken launches cash back debit card in bid for consumer wallets
Kraken is vying for a place in consumer wallets as crypto evolves from an asset class into infrastructure for mainstream financial products.
Kraken has introduced US stock trading for customers in the European Economic Area (EEA), expanding its traditional finance offerings to include over 7,000 US-listed stocks alongside cryptocurrencies and tokenized equities. Eligible EEA users can trade conventional shares and tokenized versions of the same assets on Kraken Pro and its mobile app under the company's authorization from the Markets in Financial Instruments Directive II.
The platform, operated by Payward Europe Digital Solutions, a Cyprus-based investment firm, allows customers to hold both traditional and tokenized representations of assets on a single platform. US-listed stocks can be traded commission-free, subject to certain conditions. Kraken plans to expand its integrated equities offering to additional markets in the coming months.
Launched in 2025, xStocks, Kraken's tokenized exposure to US equities and exchange-traded funds, has generated more than $38 billion in total transaction volume. As of Monday, it ranks second in market capitalization for tokenized stock issuers, with approximately $609 million, trailing Ondo Finance ($974 million) and Binance's bStocks ($544 million).
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