Apple, Tesla Go On-Chain: Can Tokenized Stocks Win Over Crypto Investors?
As real-world assets (RWAs) increasingly move onto blockchain, tokenized stocks are making a comeback as a bridge between traditional finance and the crypto world. Platforms like Kraken and Binance are revisiting a model that once failed, offering token versions of well-known U.S. equities like Apple, Tesla, and NVIDIA — but this time, the infrastructure may finally be ready. Kraken Launches xStocks on Solana Kraken has just unveiled xStocks, a product suite featuring more than 50 tokenized stocks and ETFs, including household names like Apple (AAPL), NVIDIA, and Tesla. These tokens are issued on
As real-world assets (RWAs) increasingly move onto blockchain, tokenized stocks are making a comeback as a bridge between traditional finance and the crypto world. Platforms like Kraken and Binance are revisiting a model that once failed, offering token versions of well-known U.S. equities like Apple, Tesla, and NVIDIA — but this time, the infrastructure may finally be ready.
Kraken Launches xStocks on Solana
Kraken has just unveiled xStocks, a product suite featuring more than 50 tokenized stocks and ETFs, including household names like Apple (AAPL), NVIDIA, and Tesla. These tokens are issued on Solana, giving crypto investors the perks they know well: 24/7 trading, fractional ownership, and near-instant settlement.
Each xStock token is pegged 1:1 to its underlying share and custodied by Backed Finance, Kraken's registered legal partner. For example, the AAPLx token tracks Apple's share price on Nasdaq and can be redeemed for the equivalent cash value. That said, xStocks is currently unavailable to U.S. customers and only serves select international markets.
Tokenized Stocks: New Trend or Old Idea Recycled?
Although tokenized stocks have stumbled before — most notably when Binance shut down its service in 2021 under regulatory pressure — today's market may be better positioned. According to Ryan Lee, Head of Research at Bitget: "Tokenized stocks have enormous potential by lowering entry barriers, boosting liquidity, and enabling around-the-clock trading."
Not everyone is optimistic, though. Georgii Verbitskii, founder of DeFi platform Tymio, argues that success will depend heavily on which assets make it on-chain. Crypto investors are drawn to high volatility and meme-driven momentum, so blue-chip stalwarts like Microsoft or Nvidia may not generate much excitement.
"Stocks like GameStop or AMC are the ones that can actually create waves in the crypto space," Verbitskii said.
A $250B Market and the Regulatory Puzzle
According to Adam Levi, co-founder of Backed Finance, the xStocks model was designed from the ground up to meet strict regulatory standards — including the EU's MiFID II framework, as well as rules in Jersey and Switzerland. Each token is fully collateralized by its underlying shares at a 1:1 ratio, with complete prospectuses and investor disclosures in place.
Levi believes demand for tokenized stocks "will grow rapidly over the next few years," projecting the market could expand to $250 billion — following a growth trajectory similar to that of stablecoins.
Tokenized Assets Are Democratizing Financial Investing
In Dubai, the Allo exchange has tokenized more than $22 billion in assets, including 11,000 U.S. stocks and ETFs. CEO Kingsley Advani says Allo also plans to bring pre-IPO equities like SpaceX, OpenAI, and Anthropic onto the blockchain.
"Tokenization lowers investment barriers, increases liquidity, and shortens settlement times," Advani said. With fractional share models, retail investors can access high-value assets with far less capital.
Conclusion
Stock tokenization could be a significant piece of the next wave of digital assets. But success hinges on striking the right balance between regulatory compliance and genuine appeal to crypto investors — people who are used to risk, speed, and disruption.