As blockchain innovation accelerates, a top executive at Kraken warns that tokenization’s true potential lies in reimagining finance, not just copying traditional systems onto distributed ledgers.
Tokenization Isn’t Just About Digitizing Wall Street
According to Mark Greenberg, Kraken’s Global Head of Consumer Business, tokenized equities should offer more than just blockchain-based versions of stocks. Instead, he believes they must introduce greater accessibility, programmability, and global reach to truly disrupt legacy financial markets.
“Tokenized equities can’t just be ‘Wall Street on a blockchain.’ That misses the point,” Greenberg said. “They must feel like the internet — always on, user-directed, and globally available.”
This vision positions tokenized stocks as tools to democratize capital markets and empower both developers and retail investors.
Financial Access Should Be As Fluid As Crypto
Greenberg emphasized that traditional institutions often underestimate the radical change tokenization enables.
“This isn’t just about wrapping old assets in new tech,” he explained. “It’s about rebuilding financial access to be as fluid and programmable as crypto.”
That means retail investors should gain real-time access to global markets, and developers should be able to build on tokenized assets as easily as they do with stablecoins or DeFi protocols today.
Kraken’s xStocks Pushes Tokenized Equity Forward
On June 30, Kraken partnered with Backed Finance to launch xStocks, allowing users to trade over 60 tokenized stocks, including shares of Meta, Coinbase, and Netflix.
These assets are available across Kraken, Bybit, and Solana-based DeFi platforms. Unlike traditional finance, the infrastructure is permissionless and composable, yet remains legally compliant.
“We’re designing open, programmable systems that work within clear legal boundaries,” Greenberg added.
Ethereum Also Eyes Tokenized Stock Standards
While Kraken builds on Solana, platforms like eToro are developing tokenized equities on Ethereum, where work is underway to establish SEC-aligned standards for compliant onchain securities.
The future of tokenization depends not just on technology, but on delivering accessibility, innovation, and compliance in equal measure.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.