Kraken's tokenized stock venue starts points program, hinting at possible ecosystem token

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Kraken's tokenized stock venue starts points program, hinting at possible ecosystem token The initiative will reward trading and DeFi use of tokenized stocks as the sector tops $1 billion and gains traction with major exchanges. By Krisztian Sandor | Edited by Stephen Alpher Mar 10, 2026, 2:52 p.m. Make us preferred on Google Kraken (PiggyBank/Unsplash, modified by CoinDesk) What to know : xStocks, a Kraken-linked tokenized equities platform, is launching an xPoints rewards program to incentivize traders, liquidity providers and DeFi builders who use its onchain stock tokens. Points systems in crypto often precede token launches or governance incentives, though xStocks has not officially announced plans for a token yet. The move comes as tokenized equities rapidly expand, with more than $1 billion in value locked and growing interest from traditional finance, including a new Nasdaq-Kraken partnership to distribute tokenized stocks outside the U.S. Kraken-linked tokenized equities platform xStocks plans to launch a rewards program aimed at traders liquidity providers and DeFi builders using its onchain stock tokens. The initiative dubbed xPoints will track activity across supported trading venues and integrations. Participants can earn points by trading tokenized U.S. equities providing liquidity or using the assets in decentralized finance (DeFi) applications. Points programs have become a common strategy in crypto to drive early usage of new platforms. In many cases projects later convert accumulated points into governance tokens or other ecosystem rewards. While xStocks has not announced a token yet, the initiative could pave the way for a potential token launch. xStocks said the points program is meant to align long-term contributors with the growth of its ecosystem. Participants who accumulate points may gain access to future benefits tied to the platform once the program concludes though details have not been disclosed. The move comes as tokenized equities have emerged as one of the fastest-growing sectors in crypto. The category now holds more than $1 billion in value locked, tripling in size over the past six months, RWA.xyz data shows. xStocks said its tokenized stock offering has processed more than $25 billion in transaction volume during the eight months since launch and has expanded across several blockchain networks. Traditional financial firms have also showing interest in tokenized stocks. Earlier this week, Nasdaq said it plans to work with Kraken to distribute tokenized versions of public stocks to investors outside the U.S., part of a broader push by the exchange operator to bring blockchain infrastructure into capital markets. Read more: Tokenization still at start of hype cycle, but needs more use cases, specialists say Tokenization Tokenized Assets Kraken DeFi Exclusive More For You Pudgy Penguins: Challenging the Pokemon and Disney Legacy in the Global IP Race By CoinDesk Research Feb 27, 2026 Commissioned by Pudgy Penguins CoinDesk Research looks into how Pudgy Penguins disrupts traditional toys market via a phygital model. With 2M+ units sold, they scale via global partnerships and events. What to know : Disrupting a Stagnant Market : Pudgy Penguins is utilizing a "Negative CAC" model to challenge the traditional $31.7B licensed toy industry by treating physical merchandise as a profitable user acquisition tool rather than just a final product. View Full Report Más para ti Stablecoin market hits $312B as banks, card networks embrace onchain dollars Por Will Canny , AI Boost | Editado por Stephen Alpher hace 6 minutos As regulation advances and institutions adopt blockchain settlement, stablecoins are expanding beyond crypto trading into payments infrastructure. Lo que debes saber : Macquarie says total stablecoin market cap has reached about $312 billion, up ~50% year-over-year. Most activity still comes from crypto trading, but real-world payments and institutional use are rising. Visa, Mastercard and major banks are integrating stablecoins or tokenized deposits into payments and settlement systems, the bank said. 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