Nasdaq Partners With Kraken to Launch Tokenized Stock Trading

Nasdaq Partners With Kraken to Distribute xStocks to Global Investors

Can tokenized equities bring stocks onto blockchain? Traditional stock markets usually close after trading hours. But crypto markets never sleep. Now a new development is raising a big question: could stocks soon trade the same way?

This conversation grew stronger after Nasdaq partners with Kraken to explore tokenized stock trading. The plan aims to connect traditional equity markets with blockchain systems while keeping regulatory protections and investor rights.

Nasdaq announced on March 9 that it will work with crypto exchange Kraken and public companies to develop a new framework for tokenized equities. The project focuses on improving corporate governance, shareholder engagement, and market accessibility.

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Kraken’s xStocks system already shows early demand

Kraken will act as a distribution partner for the initiative. Through this role, tokenized versions of public company shares could become available to Kraken users across Europe and other global markets.

The plan builds on Kraken’s xStocks framework, which has already recorded more than $25 billion in trading volume since launch. These digital assets represent real company shares backed on a one-to-one basis.

Popular stocks such as Nvidia, Tesla, and Apple could appear as blockchain tokens. Investors may trade them on networks like Ethereum and Solana, which support continuous activity and global participation.

Nasdaq first moved toward this idea in September 2025, when it filed a proposal with the U.S. Securities and Exchange Commission. The proposal suggested allowing tokenised versions of listed stocks and exchange-traded products to trade alongside traditional shares.

Both versions would carry the same CUSIP number, meaning they represent the same underlying asset. Settlement would continue through the Depository Trust & Clearing Corporation (DTCC) to maintain regulatory standards.

Blockchain could improve shareholder engagement

The initiative is not only about trading. Nasdaq’s token model also focuses on modernizing how companies interact with investors.

Tokenized shares could automate processes like dividend payments, proxy voting, and other corporate actions. Blockchain records could also connect directly with official share registries, ensuring each token transfer reflects an actual ownership change.

Kraken’s parent company Payward will help design an equities transformation gateway. This infrastructure aims to connect regulated exchanges with block-chain networks so tokenised equities can move between traditional systems and digital markets.

Nasdaq expects the program and related distributed-ledger services to begin launching in the first half of 2027, subject to regulatory approval.

Conclusion

The moment Nasdaq partners with Kraken shows how traditional finance and blockchain are slowly merging. Tokenized stocks could open global access, faster settlement, and continuous trading. If regulators approve the framework, this partnership may become an important step toward modernizing financial markets.

The collaboration reflects growing interest in tokenizing real-world assets. By linking regulated exchange infrastructure with blockchain networks, financial markets could evolve toward faster settlement systems and broader global participation.

YMYL Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency and digital assets involve risk, and readers should conduct independent research before making investment decisions.