Kraken opens TradFi futures to Europe and accelerates on tokenized stocks with xStocks

The crypto exchange Kraken is increasing its offensives to erase the border between traditional finance and decentralized finance. In the space of ten days, the platform launched TradFi futures for its European clients, crossed the symbolic milestone of 100 tokenized stocks (xStocks) and deployed a points program (xPoints) which rewards DeFi activity around these tokens. Overview of three announcements that outline Kraken's multi-asset trajectory in 2026.

TradFi Futures on Kraken Pro: 70 traditional markets accessible from a single interface

Since March 16, 2026, eligible customers in the European Union can trade stock index, commodity and currency futures directly from Kraken Pro. The offering covers approximately 70 markets, including the S&P 500, Nasdaq 100, gold, oil and several major currency pairs. These contracts are in addition to the more than 290 crypto perpetuals already available on the platform.

The central point of this integration: a single account, a single interface. Where a trader historically had to juggle between a stock broker, a commodities platform and a crypto exchange, Kraken now brings these asset classes together in one place. The platform explicitly positions itself as a bridge between two worlds: the performance and liquidity of TradFi on one side, the flexibility and modernity of crypto trading on the other. The stated objective is clear: to allow you to hedge a crypto position with a gold contract or to react to a Fed decision by shorting an index, without leaving the application.

Extended hours, modeled on the CME Group

Unlike stock markets which close at 4 p.m. (New York time), Kraken's TradFi futures follow the CME Group's extended calendar: 23 hours a day, 5 days a weekfrom Sunday evening to Friday afternoon (Eastern time). Details of timetables and the public holiday calendar can be consulted on the dedicated page (eu.kraken.com). Combined with crypto trading available 24/7, Kraken offers almost permanent coverage of the markets.

For active traders, this hourly differential is significant. A geopolitical event occurring on the weekend or after the close can be anticipated via crypto perpetuals, then arbitrated as soon as the TradFi market reopens, all from the same interface.

A solid European regulatory framework

The product is based on the European MiFID II regulatory framework and the supervision of CySEC (Cyprus Securities Commission), while respecting the standards of the CME Group. Users who fund their wallet dedicated to TradFi futures receive real-time level 1 market data for free. Optional access to level 2 data, for in-depth reading of the order book, is also offered.

The acquisition of NinjaTrader in the background

The launch of future TradFi in Europe is part of a broader strategy. In March 2025, Kraken (via its parent company Payward) completed the acquisition of NinjaTrader for $1.5 billion in the largest transaction combining TradFi and crypto to date. NinjaTrader, a platform founded in 2003 and registered as a Futures Commission Merchant (FCM) with the CFTC, serves nearly 2 million traders in the United States.

This acquisition allowed Kraken to launch Kraken Derivatives USwhich gives US residents direct access to CME contracts (Bitcoin, Ether, SOL, but also indices and commodities) via NinjaTrader's regulatory rails. Expansion towards Europe therefore completes the picture: US clients go through NinjaTrader/Kraken Derivatives US, EU clients through Kraken Pro with CySEC license.

100 xStocks: the symbolic milestone of tokenized stocks

Alongside derivatives, Kraken is accelerating on the equity tokenization front. On March 18, 2026, the platform announced that it had reached 100 xStocks listed — tokenized versions, backed 1:1, of some of the most popular American stocks and ETFs.

Reminder: what is an xStock?

An xStock is an on-chain token issued by Backed Assets (based in Jersey), fully collateralized by the underlying stock or ETF. Each token reflects the value of the real asset, is tradable 24 hours a day, and compatible with DeFi protocols on Ethereum and Solana. xStocks are not available in the United States or to U.S. residents.

From 60 to 100 listings in a few months

When they were launched in June 2025, 60 shares had been tokenized. The approach was deliberately progressive: ensuring liquidity depth before expanding the catalog. Nine months later, the milestone of 100 has been reached, and the roadmap aims more than 500 xStocks by the end of 2026with the ambition to eventually include international stocks beyond the American market.

The traction numbers are significant. Since launch, xStocks have generated over $25 billion in trading volumeincluding 4 billion settled directly on-chain, with more than 85,000 unique holders on the supported networks. This data positions xStocks as the benchmark infrastructure in the emerging tokenized stocks sector.

Nasdaq–Kraken partnership: towards an institutional TradFi/DeFi bridge

On March 9, 2026, Nasdaq and Payward announced a partnership to develop an “equities transformation gateway” connecting regulated equity markets to blockchain networks. The idea: allow tokenized shares to circulate between the regulated Nasdaq environment and permissionless DeFi protocols, while preserving shareholder rights (voting, dividends).

Nasdaq expects its equity token program to be operational in the first half of 2027, subject to SEC approval. If this project is successful, it could mark a major turning point for the tokenization of securities on a global scale.

xPoints: Kraken gamifies DeFi activity around tokenized actions

Last piece of the puzzle, xStocks unveiled its program on March 10, 2026 xPoints a points system that rewards active users in the tokenized stock ecosystem.

How it works

The program tracks participants' on-chain activity across multiple networks and different integrated platforms. Points accumulate based on several types of interactions: trading xStocks, providing liquidity in supported pools, using xStocks as collateral in lending/borrowing protocols, or even participating in one-off quests. Position volumes are taken into account in the calculation.

A permanent 20% bonus is granted to users who connect their portfolio early (early window), via the defi.xstocks.fi/points portal. All activity is automatically tracked on-chain.

What to remember

Kraken methodically building a multi-asset platform that integrates crypto, TradFi futures and tokenized stocks under one roof. With the future CMEs in Europe, the 100 xStocks backed 1:1, the Nasdaq partnership and the xPoints program, the exchange positions itself as an operational bridge between traditional finance and DeFi. The question is no longer whether the shares belong on the blockchain but how quickly the infrastructure can keep up with demand.