Kraken Exchange Launches 24/7 Perpetuals for U.S. Stocks

Kraken is rolling out perpetual futures for its most popular tokenized xStocks. The centralized crypto exchange says it's the first to launch tokenized equity perpetual futures contracts with regulated benchmarks.

What's the Scoop?

• Stock Futures: Kraken just expanded its suite of perpetual futures with the addition of xStocks. Eligible non-U.S. users in more than 110 countries can now leverage trade U.S. stocks on Kraken's centralized exchange platform just like they would its more than 300 crypto perps. The contracts will trade continuously, giving traders true 24/7 access to U.S. equity markets.
• Phased Launch: Kraken indicated that its perpetual futures will span popular indexes, single stocks, and ETFs. According to a press release, initial offerings will include: $SPY, $QQQ , $GLD, $NVDA, $AAPL, $GOOGL, $TSLA, $HOOD, $MSTR, and $CRCL.
• xStocks Expansion: Kraken recently acquired Backed Finance (the issuer of xStocks) in December, shortly after its tokenized stocks surpassed $10B in combined exchange and onchain trading volume within six months of launch.
• Futures Powerhouse: Kraken's completed acquisition of futures exchange NinjaTrader, which closed in May 2025, has already transformed the exchange into a leverage trading powerhouse. The partnership allows Kraken to offers 24/6 futures trading on hundreds of instruments spanning global financial markets.