Kraken announced an expanded strategic partnership with Alpaca, designating Alpaca as the preferred source and custodian for the equities that back Kraken’s xStocks tokenized equities. The agreement extends Alpaca’s role to include its Instant Tokenization Network (ITN) for real‑time mint and redeem services, targeting fintechs, developers, and institutional clients worldwide outside the United States.

Since their June 2025 launch, xStocks have generated over $10 billion in transaction volume, and the partnership aims to accelerate global adoption by leveraging Alpaca’s brokerage‑as‑a‑service API and custody capabilities. “xStocks is proving that tokenized equities aren’t a future concept,” said Mark Greenberg, Kraken Global Head of Consumer, highlighting the collaboration’s potential to expand tokenized securities across jurisdictions.

Read More: Kraken Moves to Acquire Backed in Bid to Expand Global Tokenized Equities

• What role does Alpaca play in the new partnership? It becomes the preferred venue for sourcing and custody of equities backing xStocks.
• When can institutions access the expanded services? They are available now where regulatory approval permits, starting outside the U.S.
• Which markets are targeted for xStocks expansion? Non‑U.S. countries, subject to local regulatory clearance.
• What technology enables real‑time minting and redemption? Alpaca’s Instant Tokenization Network (ITN) integrated with Kraken’s xStocks platform.

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