Kraken xStocks surpasses $25 billion volume within eight months, signaling rapid tokenized equities adoption, rising liquidity and strong onchain participation.
Kraken’s tokenized equities platform xStocks has reached a striking global milestone. Within just eight months, total transaction volume is back above the $25 billion threshold. The achievement demonstrates accelerating adoption as tokenization continues to spread into larger pockets of the crypto markets.
Kraken xStocks Volume Surpasses $25 Billion
The announcement marks accelerating adoption as tokenization attracts more investors across the mainstream. Kraken said it includes centralized trading, decentralized trading, minting and redemption activity. Previously, in November, xStocks had crossed $10 billion in terms of platform expansion.
xStocks crossed $25B in Total Volume.
Another major milestone for the infrastructure layer powering tokenized equities.
Tokenization accelerates, usage rises and activity increases. xStocks is the standard. pic.twitter.com/kelHyJO9SW
— xStocks (@xStocksFi) February 19, 2026
In addition, cumulative volume has increased by around 150% since that previous point. Kraken highlighted activity throughout exchanges, DeFi protocols, wallets, and consumer applications worldwide. As a result, tokenized equities are becoming more and more of a live market, rather than an experimental infrastructure.
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Additionally, onchain data reveals over $3.5 billion of blockchain-based transactions on record. Kraken reported more than 80,000 unique onchain holders from around the world. These figures reflect consistent liquidity, repeated engagement and steadily increasing investor demand.
Furthermore, Kraken focused on interoperability, cross-chain mobility and seamless asset transfers between supported networks. Always-on markets and permissionless access are becoming the norm in markets across the globe. Therefore, tokenized equities increasingly reflect features that relate to digital indigenous financial systems.
Global Demand for Tokenized Equities Continues Rising
Kraken said adoption of xStocks continues to outpace competing tokenization frameworks according to key measurable factors. Onchain metrics put xStocks in the top rankings in terms of unique holder participation. Data as of February 17, 2026 shows a good distribution in tokenized stock products.
Meanwhile, some major crypto platforms have expedited integrations that support tokenized U.S. equities via xStocks. Exchanges such as Bybit and Gate.io have already made direct access to trading possible. As a result, global investors get access without the constraints of the traditional hours of the markets.
Each xStock is still fully backed one-to-one by the underlying stock or ETF. Licensed custodians hold collateral in bankruptcy remote structures intended for investor protection. This model promotes transparency, ownership clarity and greater long-term confidence overall.
Kraken had nearly $225 million aggregate assets under management across xStocks. Moreover, on-chain activity is only growing in line with broader trends in the tokenization of real-world assets. As a result, metrics of investor participation continue to increase steadily over integrated trading venues.
Kraken released information via its official blog and xStocks communication channels. Additionally, xStocks posted milestone news through its verified X social media account. These disclosures bring transparency on the progress of growth, usage, and ecosystem development.
Therefore, tokenized equities are becoming more appealing for investors who want flexible market access and to use technology to access markets. Meanwhile, platforms that combine xStocks enjoy deeper liquidity and greater user involvement.
Val Gui, General Manager for xStocks commented on the platform’s quick expansion. Gui said investors have growing demands for open, accessible, and continuously functioning financial markets.
Importantly, tokenized equities now show scale to measure, liquidity to sustain and participation levels to match. Consequently, industry momentum is shifting further towards interoperable standards and transparent collateral models. Kraken’s milestone is indicative of structural shifts in changing digital financial markets.
