[Kraken's xStocks Total Trading Volume Surpasses $25 Billion] According to Deep Tide TechFlow on February 20, as reported by Financefeeds, the tokenized stock platform xStocks, under the cryptocurrency exchange Kraken, has achieved a total trading volume of over $25 billion since its launch last year. Approximately $3.5 billion of this volume comes from transactions on the Solana, Ethereum, and TON blockchains. The platform currently has over 80,000 on-chain holders, with total assets under management nearing $225 million. Each xStocks token is backed 1:1 by corresponding stocks or ETFs held by licensed custodians. This structure is similar to most regulated tokenized asset products, where custody and collateral remain off-chain, while transfers and settlements occur on-chain. According to RWA.xyz data, the current market for tokenized stocks is approximately $940 million, with a monthly trading volume of around $2.34 billion and about 311,000 verified holders across platforms. Dune Analytics data shows that xStocks deployed on Solana account for 46.9% of the tokenized stock market share.