xStocks Brings Ōura IPO Access to Kraken and the xStocks Alliance
Kraken, Kraken Pro and xStocks Alliance platforms can now offer eligible customers access to the Ōura IPO at the institutional offering price, inclusive of a 5% spread, with OURAx delivered on listing day.
Ōura is going public. It's expected to list on Nasdaq under the ticker OURA on September 30, and xStocks is offering IPO access to xStocks Alliance members, including Kraken.
Through xStocks, partners can offer customers in eligible countries the chance to express interest in OURAx at the institutional offering price, within the indicated price range of $40.00–$44.00, inclusive of a 5% spread. The interest window opens today, with pricing expected on September 29. Customers who receive an allocation get OURAx, a tokenized equity backed 1:1 by underlying Ōura shares held in regulated custody, on listing day.
Allocation is not guaranteed, is not first-come, first-served, and is decided by the IPO underwriters based on demand. High demand may result in a full, partial, or no allocation.
Founded in Finland in 2013 and headquartered in San Francisco, Ōura makes the Oura Ring, a smart ring that tracks sleep, heart rate, activity, stress and temperature. According to its S-1/A, Ōura has 5.0 million paid members across 56 markets, up from 2.9 million a year earlier, and reported $1.43 billion in revenue and $59 million in net income for the twelve months to June 2026.
How IPO Access works for xStocks Alliance members
xStocks sources IPO allocation from underwriters and distributes it through participating partners on the day of listing, with any unallocated funds refunded the same day.
- Onboard with Kraken. Open a Kraken account for your entity, or use an existing one.
- Collect funds from your customers. Gather interest in your own product and set expectations early, since allocation isn't guaranteed.
- Deposit to express interest. Fund your Kraken account before the interest window closes. You can top up until it does.
- Receive allocation. The IPO underwriters decide allocation based on demand. Any unallocated funds are returned on the same day.
- Trade from day one. Once Ōura lists, xStocks tokenizes the underlying shares 1:1 and distributes OURAx, ready to trade across exchanges and onchain via Solana, EVM and TON.
How this works for your customers
Customers on Kraken, Kraken Pro and other xStocks Alliance members submit a non-binding indication of interest, with their funds reserved. On listing day, any allocation xStocks receives gets distributed to all participating venues, representative of their share of the total allocation, to allocate to their customers. xStocks IPOs have no lock-up, making them tradable from day one. Anything not allocated is refunded the same day.
From SpaceX to Ōura
Ōura is the fourth IPO supported through xStocks this year, following SpaceX, Bending Spoons and Jersey Mike's. No other tokenized asset issuer has supported more IPOs than xStocks. xStocks infrastructure is built to support eligible US-listed IPOs from their first day of trading, and more are on the way.