xStocks Live on Talos for Seamless Institutional Access

xStocks, the leading standard for tokenized US equities and ETFs, is now fully supported through Talos, the premier institutional digital asset infrastructure provider. This integration gives dozens of Talos clients direct access to trade xStocks on Kraken, while leveraging Talos's trusted network of exchanges, market makers, banks, and platforms.

Exchanges already connected to Talos can effortlessly list xStocks through existing APIs with no new connectivity required. Market makers can step in to provide liquidity, improving market depth and efficiency. Banks and retail platforms utilizing Talos's white-label technology can now incorporate xStocks into their offerings, delivering 24/7 tokenized assets to end-users without additional infrastructure builds.

This plug-and-play approach removes traditional barriers, allowing institutions to route orders directly while benefiting from Talos' data tools, including expanded Coin Metrics coverage for tokenized equities.

Why this matters

Talos is the go-to platform for top-tier institutions—delivering secure, compliant trading, execution, and data solutions. Over 50 leading exchanges, OTC desks, prime brokers, and lenders partner with Talos, enabling seamless connectivity across the digital asset ecosystem. Designed to be one integrated platform supporting the end-to-end trading lifecycle, it now extends that infrastructure to tokenized equities through xStocks.

“Integrating xStocks with Talos plugs tokenized equities directly into the institutional trading stack,” said Val Gui, General Manager at xStocks. “Through Talos’ global network of exchanges, liquidity providers and platforms, we’re removing friction that has held the adoption of tokenized equities back, making it seamless for venues to list them, for liquidity providers to support them, and for institutions to deliver always-on tokenized equities to investors across the world.”

The always-on, blockchain-interoperable nature of xStocks aligns perfectly with Talos's vision of unified digital asset infrastructure, enabling real-time trading and self-custody for a diverse investor base, ultimately increasing efficiency and democratizing access to tokenized equities and ETFs.

While the world's largest investment managers are still in the exploration phase for tokenization, Talos clients can already tap into the leading standard for tokenized equities through xStocks. This accelerates adoption far beyond retail, connecting players big and small through a permissionless, transparent and open ecosystem.

xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. In the European Union / European Economic Area, xStocks are offered to eligible customers via Payward Europe Digital Solutions (CY) Ltd. (“PEDLS-CY”), a Cyprus investment firm authorized and regulated under EU MiFID II. xStocks are not registered under the U.S. Securities Act and are not available in the United States or to U.S. persons. xStocks are also not currently available in the United Kingdom or in any other jurisdiction where their offer or distribution would be unlawful or would require regulatory authorization that has not been obtained. Neither PDSL, Payward Europe Digital Solutions (CY) Ltd. (“PEDLS-CY”), nor their respective affiliates provide investment advice or recommendations, PDSL (Kraken) does not provide investment advice and/or recommendations, and no communication, through any Kraken App or website or otherwise, should be construed as such. Individual investors should make their own decisions or seek professional independent advice if they are unsure as to the suitability / appropriateness of any investment for their circumstances or needs, including potential tax treatment. Investing in xStocks involves an element of risk. The value of an investment may go down as well as up, and past performance is not a reliable indicator of future results. Geo restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for xStocks at https://assets.backed.fi/legal-documentation to learn more.