Kraken Plans 24/7 Trading for Tokenized US Stocks on Solana

Kraken, one of the world’s leading cryptocurrency exchanges, announced plans to offer 24/7 trading of tokenized U.S. stocks on the Solana blockchain beginning in Q3 2025. This move marks a significant step in merging traditional equities with decentralized finance (DeFi), leveraging Solana’s high throughput and minimal transaction fees to democratize global access to blue-chip shares like AAPL, TSLA, and AMZN.

Initiative

The new offering will tokenize U.S. equities via a regulated Special Purpose Vehicle (SPV) structure. Each share-backed token represents fractional ownership, fully collateralized by the underlying asset held in custody through SEC-compliant partners. Users can mint these tokens on Solana, trade them around the clock, and redeem them back into traditional shares during market hours.

Tokenization Model

Kraken’s tokenization process involves two main stages:

• Minting: Investors deposit U.S. dollars (or crypto) on Kraken, triggering the SPV to buy and hold the equivalent stock. An on-chain oracle verifies custody, and Kraken issues ERC-20 SPL tokens on Solana representing those shares.
• Redemption: Token holders can burn tokens to reclaim the underlying stock or cash equivalent, with the SPV facilitating transfer of physical shares to brokerages or bank accounts.

Platform Integration

Kraken will integrate trading directly into its existing web and mobile apps, offering familiar order types—market, limit, and stop orders—combined with Solana wallet support. Users can hold both tokenized stocks and cryptocurrencies in a single portfolio, streamlining asset management. Trading fees will be competitive at 0.1% per trade, with tiered rebates for high-volume participants.

“By building on Solana, we unlock sub-second settlement and near-zero gas costs, crucial for retail and institutional traders who demand reliability and affordability,” said Kraken CTO Raghavendra Kumar.

Implications

Market Access

24/7 availability addresses geographic and time-zone barriers, enabling Asia-Pacific and European investors to react instantly to U.S. corporate earnings, economic data releases, or geopolitical events. This could reshape trading behavior, leading to more continuous price discovery.

Regulatory Considerations

Operating under a regulated SPV, Kraken must comply with U.S. securities laws, including KYC/AML requirements and Broker-Dealer obligations. Tokenized shares will be transferable only among verified accounts, and Kraken will implement daily transfer caps to mitigate systemic risk.

Outlook

The pilot phase, slated for September, will include a select group of U.S.-listed equities. Pending SEC approval, Kraken intends to expand offerings to the full S&P 500 by year-end. If successful, this model could prompt other exchanges to follow suit, accelerating the convergence of traditional finance and DeFi.

Investors should monitor regulatory updates and custodial announcements. A smooth launch could drive significant on-chain equity volumes, while any compliance setbacks may delay rollout. Regardless, Kraken’s initiative signals a bold vision: asset classes once siloed on Wall Street are now poised to operate seamlessly in the blockchain era.