Kraken has introduced round-the-clock trading for tokenized equity perpetual futures, expanding its derivatives suite beyond crypto into traditional assets. The rollout begins with 10 contracts tied to gold, major U.S. indexes, and high-profile stocks, signaling a deeper push into always-on global markets.
The new products are powered by xStocks, a tokenization technology provider Kraken is in talks to acquire. Eligible non-U.S. clients across more than 110 countries can trade perpetual futures tracking assets including the S&P 500, Nasdaq 100, Nvidia, Apple, Google, Tesla, Robinhood, Strategy, and Circle Internet Group. The contracts are fully collateralized and backed one-to-one by their underlying assets, according to the company, offering continuous exposure without standard market-hour constraints.
Can 24/7 Equity Perps Redefine Global Trading?
Kraken’s move reflects a broader race among crypto-native firms to tokenize traditional markets and remove time-based trading limits. Platforms such as BitMEX and Lighter have already launched 24/7 equity perps, often focused on blue-chip names. Kraken, however, says its contracts reference regulated benchmarks and leverage infrastructure tied to CME Group derivatives, spanning equities, commodities, foreign exchange, and energy markets. That institutional linkage may appeal to traders seeking familiarity alongside crypto-style flexibility.
The launch also comes as volatility ripples across global markets, driving demand for hedging tools that operate outside conventional exchange hours. Kraken Global Head of Consumer Mark Greenberg framed the shift as structural rather than incremental.
“This is what it looks like when traditional markets are rebuilt for a crypto-native, always-on world,” he said, describing tokenized equity perps as a new phase in capital market access and risk management.
Strategically, the expansion aligns with Kraken’s ambition to evolve into a multi-asset trading hub comparable to Robinhood as it prepares for a potential public listing. The exchange recently reported $2.2 billion in 2025 adjusted revenue and is working to finalize its xStocks acquisition. With a confidential IPO filing and a $345 million SPAC listing already completed, investors will be watching whether 24/7 tokenized equities become a growth engine ahead of the next capital markets milestone.
