Trust Wallet Joins xStocks Alliance, Unlocking Tokenized Equities Access for Its 200M Users

Kraken and Backed announce strategic partnership with Trust Wallet to accelerate adoption of tokenized U.S. equities

We’re excited to announce the next major step in the growth of xStocks – the industry’s gold standard for tokenized equities. In partnership with Backed, Kraken is collaborating with Trust Wallet to integrate xStocks directly into one of the most widely used self-custody crypto wallets, bringing interoperable tokenized equities to over 200 million users across the world. 

Seamless access through Trust Wallet 

Trust Wallet’s intuitive, multi-chain design and global reach make it a natural platform for xStocks to integrate with. Soon, Trust Wallet users will be able to seamlessly buy xStocks using a range of fiat local currencies. In addition, Trust Wallet users will be able to deposit and withdraw xStocks from popular crypto exchanges, including Kraken, across a wide range of blockchains, including Solana, BNB Chain, TRON, and Ethereum. 

As part of the integration, Backed will continue to issue xStocks as fully collateralized, on-chain tokens, maintaining strict 1:1 backing for each tokenized equity that a Trust Wallet user purchases. Trust Wallet’s user-friendly interface and expansive ecosystem support will ensure that tokenized equities are easily accessible for both retail investors and builders looking to incorporate them into DeFi and Web3 applications.

Driving mass adoption of tokenized equities 

Arjun Sethi, Kraken co-CEO: “For xStocks to achieve true mass adoption, seamless integration with the world’s most popular self-custody wallets isn’t just important, it’s vital. Bringing xStocks to Trust Wallet puts tokenized equities directly into the hands of millions of users worldwide, right alongside the crypto, stablecoins, and DeFi assets they already use daily.” 

“This is far more than an integration. It’s a paradigm shift. We’re accelerating the transformation of global markets into an open, borderless, 24/7 system that works with the same freedom and accessibility as the internet itself.” 

Eowyn Chen, Trust Wallet CEO: “Trust Wallet has always been about unlocking access – not just to crypto, but to the future of global finance. By integrating xStocks, we’re bridging the gap between Web3 and traditional markets in a way that’s intuitive, borderless, and user-first. This collaboration brings tokenized equities directly into the hands of millions, no brokerage account needed.” 

Adam Levi, Backed co-founder: “This is a monumental step in realizing our vision for universal access. As the standard for tokenized equities, xStocks should be available to individuals across whatever blockchain they choose, and having over 200 million users being able to access tokenized equities through Trust Wallet reaffirms its role as a public good.” 

Since launching in late June, xStocks have already surpassed $4 billion in combined CEX and DEX volume, underscoring strong market demand for this new asset class. Designed to meet users where they are, xStocks offer a transparent, open, and borderless pathway to gain exposure to U.S. capital markets through tokenization. 

What’s next for xStocks? 

Trust Wallet’s integration is the latest milestone in xStocks’ rapid expansion beyond the Kraken platform. In recent weeks, xStocks has added support for users of BNB Chain, TRON, and Ethereum, while we have also launched xStocks for our millions of EU-based clients—unlocking a new wave of demand for this emerging asset class. 

In the weeks ahead, we’ll continue working with partners to bring xStocks to more high-performance blockchains and leading consumer applications, ensuring the gold standard for tokenized equities becomes more accessible to a wider community of users, communities, and markets across the world. 

Our blockchain-agnostic, multi-platform approach reflects a core belief: tokenized equities should be open, permissionless, borderless and accessible across every ecosystem. We’ll keep driving adoption until we achieve this. 

xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. xStocks are not nor will be registered with any local securities regulators.

PDSL (Kraken) does not provide investment advice and/or recommendations, and no communication, through any Kraken App or website or otherwise, should be construed as such.

Individual investors should make their own decisions or seek professional independent advice if they are unsure as to the suitability/appropriateness of any investment for their circumstances or needs, including potential tax treatment. Investing in xStocks involves an element of risk. The value of an investment may go down as well as up, and past performance is not a reliable indicator of future results.

Not available in the U.S. or to U.S. persons. Geo restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for xStocks at https://assets.backed.fi/legal-documentation to learn more. 

xStocks in the EU are provided by Payward Europe Digital Solutions (CY) Limited (“PEDSL”), regulated by the Cyprus Securities and Exchange Commission (CySEC), licence no 342/17. PEDSL does not provide investment advice and is not affiliated with the issuer of the xStocks, which is Backed Assets (JE) Limited.

Trading xStocks involves significant risks and is not appropriate for all investors. The value of your investment may go down or up. Read the Offering Documentation and Risk Disclosure for xStocks available on eu.kraken.com. 

About Trust Wallet 

Trust Wallet is a secure, self-custody Web3 wallet and gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for 210+ million users around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, as well as buy, sell, and stake crypto to earn rewards, and now access RWAs — all in one place and without limits.