Kraken brings crypto-style, 24/7 perpetuals trading for tokenized U.S. stocks

CoinDesk

by Krisztian Sandor

February 24, 2026

AI-Generated Deep Dive Summary

Crypto exchange Kraken is revolutionizing trading by introducing the first regulated perpetual futures contracts based on tokenized U.S. stocks. Available to eligible non-U.S. users in over 110 countries, these derivatives allow traders to access major indices, tech giants like Apple and Tesla, and even a gold ETF (GLD) with up to 20x leverage, all without the constraints of traditional market hours. This move bridges the gap between crypto's fast-paced trading culture and traditional finance, offering a seamless way to trade equities as if they were cryptocurrencies. Perpetual futures contracts differ from traditional ones by never expiring, allowing continuous trading around the clock. This structure has become hugely popular in crypto markets, with decentralized exchanges processing over $600 billion in volume in January alone. Kraken's integration of this model for tokenized stocks marks a significant expansion into new asset classes, offering traders flexibility and capital efficiency. The underlying xStocks tokens are fully collateralized, ensuring reliable pricing even when U.S. exchanges close. Kraken’s launch is a milestone in the evolution of global markets, bringing crypto-like speed and accessibility to equities. This innovation not only appeals to crypto-native traders but also opens doors for traditional investors seeking alternative ways to manage risk. By expanding into tokenized stocks and ETFs, Kraken positions itself at the forefront of merging traditional finance with blockchain technology. As other platforms like Ondo Finance follow suit, the future of trading is becoming more dynamic and inclusive than ever before.

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Originally published on CoinDesk on 2/24/2026