Kraken Opens SpaceX IPO Access to Customers in Over 110 Countries via xStocks Platform
Kraken announced that it is opening subscription interest registration for the SpaceX IPO to customers in over 110 countries, including the EEA region, through the xStocks platform.
Customers can submit non-binding expressions of interest to participate in the SpaceX IPO, which will be offered in the form of tokenized shares (SPCXx) supported 1:1 after trading, and will support 24/7 trading post-listing; SpaceX is the inaugural project for this IPO Access program.
In terms of market mechanisms, global retail investors can buy into tokenized IPO allocation opportunities, bypassing traditional institutional-led IPO access barriers; the event-driven xStocks framework is approaching the SpaceX listing, directing funds towards compliant tokenized infrastructure and expanding retail brokerage, benefiting from Kraken's non-U.S. customers and RWA platform, while being pressured by traditional investment bank IPO allocation channels.
Source: Public Information
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Kraken's parent company Payward previously launched the xStocks tokenized stock framework, which has supported multiple U.S. stocks and ETFs. This IPO Access expansion continues its path of bridging from crypto trading to traditional asset tokenization, with SpaceX as the inaugural project directly targeting popular IPOs that have long been difficult for retail investors to access.
In terms of capital pathways, Payward mobilizes global retail funds to participate in the IPO pricing phase through regulatory-compliant custodians and a 1:1 backing structure, motivated by reducing institutional monopolies and expanding platform AUM. Strategically, it aims to convert its crypto user base into an entry point for traditional capital markets while paving the way for future projects like Anthropic.
Similar to Robinhood or early crypto platforms breaking retail investment barriers, Kraken is currently in a transformative stage of penetrating from secondary trading of tokenized assets to primary IPOs, rapidly accumulating users across over 110 non-U.S. countries.
Essentially, this represents a restructuring of the industry chain: xStocks connects traditional IPO allocations with blockchain tokenization, with the mechanism designed to bypass geographical and access restrictions to achieve direct global retail access, promoting a shift in asset management from institutional centers to platform-based inclusivity.
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