xStocks, a tokenised equity standard backed by Kraken, has been made available for trading on 360X, the regulated secondary market for financial instruments supported by Deutsche Börse Group. The move gives Deutsche Börse clients direct access to blockchain-based versions of listed equities and ETFs.
From 9 February, participants on 360X can trade five xStocks instruments – CRCLx, GOOGLx, NVDAx, SPYx and TSLAx – against stablecoins. 360X is regulated by BaFin and ESMA. According to the announcement, the venue plans to expand the range of tokenised assets over time.
Kraken–Deutsche Börse partnership
xStocks were launched in May 2025 and, according to the company, have reached close to USD 20 billion in total trading volume. Each token is backed one-to-one by the underlying share or ETF and is held with a licensed custodian in a bankruptcy-remote structure.
The listing follows the strategic partnership between Kraken and Deutsche Börse Group announced in December. That partnership covers FX, custody, settlement and tokenised assets, with the stated aim of combining regulated market infrastructure with crypto-based products for institutional clients.
Crypto Finance expands in Latin America
Another Deutsche Börse Group company, Crypto Finance Group, is also expanding its presence. They are expanding in Latin America, where financial institutions are seeking institutional-grade crypto infrastructure. The firm says it is engaging with banks, asset managers and other intermediaries to support services such as crypto custody and trading. According to its data, crypto usage in the region grew about 63 per cent between mid-2024 and mid-2025, with more than USD 1.5 trillion in on-chain transaction volume recorded between July 2022 and June 2025.
Crypto Finance points to inflation and currency instability as key drivers of adoption. In Argentina, millions use crypto as a hedge against purchasing power loss, while in Mexico and Central America it is increasingly used for remittances. The company says institutions are now showing concrete demand for compliant and well-structured crypto offerings, making regulated custody and trading infrastructure central to the market’s next phase of development.
