Kraken Launches 24/7 Tokenized Equity Perpetual Futures
Kraken has unveiled what it calls the first regulated tokenized equity perpetual futures on a derivatives venue, opening round-the-clock leveraged exposure to major U.S. stock indices, leading companies, and gold for eligible non-U.S. clients.
Key Takeaways
The move marks another step in the exchange’s strategy to blend traditional finance with crypto-native infrastructure. By offering equity-linked contracts that trade 24 hours a day, seven days a week, Kraken is positioning itself beyond the limitations of standard market hours.
Always-On Equity Exposure
Unlike traditional stock markets that close on evenings and weekends, these contracts remain active continuously. Traders can take positions at any time, including during public holidays, without waiting for Wall Street to reopen.
The instruments are structured as perpetual futures, meaning they have no expiry date. Instead of settling at a fixed maturity, they remain open as long as margin requirements are maintained.
Built on xStocks Infrastructure
The contracts operate under Kraken’s xStocks framework, which consists of digital representations of traditional shares. These tokenized assets are fully collateralized and backed 1:1 by underlying securities held in regulated custody.
Rather than granting direct share ownership, the futures reference tokenized equity benchmarks. Funding payments between long and short traders occur every eight hours, helping to keep futures prices aligned with spot markets.
Initial Asset Lineup
The first wave includes exposure to the S&P 500 and Nasdaq 100 through SPYx and QQQx contracts, as well as GLDx, which references the SPDR Gold ETF. Individual stock contracts cover major names such as Apple, Nvidia, Tesla, Alphabet, Robinhood, MicroStrategy, and Circle.
Kraken allows up to 20x leverage on these products, offering capital efficiency but significantly increasing risk for traders.
Who Can Access Them
The contracts are available in more than 110 countries, but users in the United States are explicitly excluded. Australia, Canada, and the United Kingdom are also among restricted jurisdictions. Eligible clients can trade the products through both the standard Kraken interface and Kraken Pro.
Part of a Bigger Strategy
The launch follows Kraken’s December 2025 acquisition of Backed Finance, the firm behind the xStocks infrastructure. The exchange has described its broader ambition as building an “Everything Exchange” – a unified marketplace where crypto and traditional financial assets coexist under an always-on trading model.
More tokenized stocks and ETFs are expected to be added in the coming months, signaling that Kraken views this launch as the beginning of a larger expansion rather than a one-off product release.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
