Key Takeaways:
- Kraken met with the SEC’s Crypto Task Force to discuss the regulatory framework for a proposed tokenized trading platform for real-world assets.
- Tokenized stocks remain a niche market, with just $360 million in circulation compared to the $26.5 billion broader tokenized RWA space.
- Kraken and Robinhood are leading efforts to offer 24/7 tokenized stock trading, with Kraken expanding its services to the Tron blockchain.
On August 25, Kraken met with the US Securities and Exchange Commission’s (SEC) Crypto Task Force to discuss its proposed tokenized trading platform and the broader tokenization of traditional assets.
Representatives from Payward Inc. (Kraken’s parent company), Kraken Securities LLC, and legal advisors from Wilmer Cutler Pickering Hale and Dorr LLP attended the meeting.
Kraken met w/ SEC Crypto Task force today to discuss tokenization of traditional assets…
— Nate Geraci (@NateGeraci) August 25, 2025
Included the legal & regulatory framework for operating a tokenized trading system in the *US*.
It’s coming. pic.twitter.com/hAbJB7FRa8
The talks centered on regulatory frameworks, legal compliance, and investor protection, which remains a major concern among regulators and traditional exchange groups.
Unlike conventional equities, tokenized stocks trade 24/7, raising questions about oversight and risk safeguards.
Kraken, which launched its tokenized stock service for non-US users in May, recently expanded support to the Tron blockchain.
Competitor Robinhood also rolled out tokenized equities in the EU in June.
Despite the sector’s potential, tokenized stocks remain small in scale, with only $360 million in circulation – just 1.35% of the $26.5 billion tokenized real-world asset (RWA) market.
Research from Binance suggests the market could surpass $1.3 trillion if just 1% of global equities were tokenized.
A Kraken survey found that 65% of US investors active in both crypto and equity markets believe crypto will outperform equities over the next decade.
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