After Kraken, Bybit, and Robinhood, KuCoin Launches Tokenized Stocks

Cryptocurrency exchange KuCoin has introduced xStocks, a new product offering tokenized versions of major U.S. equities, including Tesla, NVIDIA, and the S&P 500 ETF. The assets are now available for trading on KuCoin and are denominated in USDT.

The exchange joins two other mega crypto exchanges, Kraken and Bybit, that recently announced their listing of tokenized U.S. stocks.

The trend represents a significant step in bringing traditional equities onto blockchain infrastructure, giving global investors crypto-native access to U.S. stock market exposure.

From day one, we wanted @kucoincom to be more than just a crypto exchange — a bridge between worlds. Launching @xStocksFi is a big milestone for us, bringing fully-backed real-world assets into the Web3 ecosystem for our users. This is what building for the long term looks like. https://t.co/fDmSbWxUW9

Kraken, Bybit, Robinhood, and Now KuCoin

Like Kraken and Bybit, KuCoin mentioned that the tokenized equities are issued by a Swiss-based firm, Backed, and are backed 1:1 with real stocks held in third-party regulated custodians. The tokens are built on the Solana blockchain.

NVIDIA became the world’s first $4 trillion company on July 10. Just four days later, Bitcoin reached an all-time high above $120,000. KuCoin’s launch of tokenized equities aims to allow users to shift between high-growth tech stocks and cryptocurrencies without leaving the platform. The company highlighted the benefits of offering asset classes within a single account.

xStocks are going LIVEAvailable today on @krakenfx, @Bybit_Official and being rolled out on @solana, this is the next step for internet capital markets.Real assets, real value, for real people. pic.twitter.com/NQ1dKEfNjD

The xStocks platform enables global users to buy and sell tokenized equities using USDT. This removes the need for fiat on-ramps or third-party brokerages. According to KuCoin, the platform supports seamless switching between crypto assets and tokenized stocks from the same interface.

Global Access and Upcoming Transparency Features

KuCoin says the product line is available in more countries than any other USDT-denominated tokenized equity platform. The exchange currently serves over 41 million users across more than 200 regions.

Each xStock token gives holders a claim on the underlying shares, with full collateral backing. KuCoin also announced that Chainlink-powered Proof of Reserves will be added soon to provide on-chain verification of asset backing.

Read more: Tokenized Stocks Mania: Two Mega Crypto Exchanges Enter the Space Nearly 2 Hours Apart

Robinhood is also deepening its push into crypto with plans to launch tokenized stock trading and develop its own blockchain network on Arbitrum.

We’re giving away the first Private Company Stock Tokens of Open AI and Space X.If you’re a Robinhood EU customer and you qualify, you are now able to claim your tokens in-app until July 7th.#RobinhoodPresents https://t.co/oX97lRQ8Vc pic.twitter.com/rkK1JKxHiC

However, Robinhood’s effort to tokenize shares of high-profile firms such as OpenAI and SpaceX quickly faced scrutiny in the European Union. OpenAI also distanced itself from the offering amid a regulatory inquiry by Lithuania’s central bank.