Kraken has launched commission-free trading in more than 7,000 U.S.-listed stocks for eligible customers across the European Economic Area, the exchange announced on August 18, 2026. The rollout lets users in the region invest in stocks, tokenized equities and crypto within a single app, available through Kraken Pro on desktop and mobile as well as the standard Kraken app. While there are no trading commissions, other fees and geographic restrictions may still apply. Commission-free equity trading has been the retail norm since 2019, when major U.S. brokerages dropped stock commissions after Robinhood popularized zero-fee trading, and Kraken's launch extends that pricing standard to a crypto-first platform.

Kraken marked the launch on X:

7,000+ US stocks are now available to EEA users in the Kraken app 🇪🇺
Invest in stocks, tokenized equities, and crypto all in one platform.
Explore stocks ⤵️ pic.twitter.com/ApYmHxNzOF
— Kraken (@krakenfx) August 18, 2026

The new offering pairs traditional shares with xStocks, Kraken's tokenized versions of U.S. equities that are backed 1:1 by the underlying shares. xStocks first appeared in mid-2025 through a partnership between Kraken and tokenization firm Backed, starting with several dozen U.S. stocks and ETFs. More than 700 xStocks and over 600 crypto assets are available within the same account. According to the exchange, the combination makes Kraken the first crypto-native platform to offer traditional equities and tokenized versions of the same assets side by side in a single regulated account.

Mark Greenberg, chief commercial officer of Payward, Kraken's parent company, said the launch "eliminates the artificial divide between traditional and tokenized formats of the same asset."

How xStocks Differ From Regular Shares

Traditional shares operate under standard market hours, settlement rules and shareholder protections. xStocks, by contrast, are blockchain tokens that can be transferred to self-custody wallets and traded when stock markets are closed.

Beyond already-listed equities, Kraken also plans to tokenize allocations tied to new IPO listings. Under the plan, eligible customers can submit nonbinding indications of interest in advance, with the corresponding shares tokenized once trading begins.

The stock trading service is operated through Payward Europe Digital Solutions, a Cyprus-regulated investment firm operating under a MiFID license. The structure keeps Kraken's securities services separate from its crypto operations, which fall under Europe's MiCA framework. MiCA, which took full effect across the EU at the end of 2024, provides a single rulebook that lets authorized crypto firms operate across the bloc.

Competition Is Growing Across the Industry

Kraken's launch is part of a wider shift, as several major crypto platforms move deeper into stock trading in Europe.

Coinbase has received U.K. regulatory approval to offer equities and derivatives alongside crypto, and it already provides U.S. customers with access to more than 8,000 stocks and ETFs through a separate brokerage. Coinbase also plans to launch tokenized U.S. stocks for non-U.S. customers, backed 1:1 by real shares, with automatic dividends and onchain settlement.

Binance, meanwhile, offers more than 7,000 U.S. stocks and ETFs to eligible non-U.S. customers and has plans for its own tokenized equity product, known as bStocks. Crypto.com and Robinhood both offer tokenized stocks in Europe, while Bitpanda takes a different approach, offering regular U.S. stocks rather than tokenized ones.

Industry executives attribute the expansion to user demand. Keith Grose, Coinbase's U.K. CEO, said users want to manage more of their financial life in fewer places.

The sector's growth is also drawing regulatory attention. The tokenized stock market was valued at around $1.4 billion in May, and the U.S. Securities and Exchange Commission is exploring a framework for blockchain-based stock trading as the sector grows.