Crypto exchange operator Kraken has announced that its xStocks tokenized stocks trading unit is now integrated with CoinRoutes, giving institutional traders access to tokenized stocks and ETFs within the same platform they use to trade perpetual futures, crypto options, CME-listed commodities, and traditional equities. The integration goes live today for CoinRoutes clients globally.

CoinRoutes is built for sophisticated execution: smart order routing, liquidity aggregation, and multi-asset algorithms designed to capture pricing inefficiencies across fragmented markets.

With xStocks now in that environment, institutional traders can run spread strategies across tokenized equities, their underlying counterparts, and related derivatives from a single interface. That’s a meaningfully different proposition than accessing tokenized equities through a standalone venue.

The integration reflects how xStocks is being used in practice. Since launching in June 2025, xStocks has processed over $28 billion in combined transaction volume and grown to more than 100,000 unique holders across blockchain ecosystems.

Demand from institutional counterparties (firms running algorithmic strategies across asset classes) has been a consistent part of that growth. CoinRoutes, with connectivity to 60+ venues and support for thousands of instruments, is purpose-built for exactly that use case.

Val Gui, General Manager of xStocks said,

“Tokenization isn’t just about expanding access, it’s about making capital markets fundamentally more efficient. Integrating with CoinRoutes brings institutional-grade execution to tokenized equities and unlocks new trading strategies across onchain and traditional markets, moving us closer to fully integrated, 24/7 capital markets.”

Ian Weisberger, CEO of CoinRoutes added,

“By integrating with xStocks, we’re giving our clients efficient, institutional-grade access to these instruments while maintaining the execution quality and control they expect from CoinRoutes. Our platform’s multi-asset algorithms enable seamless trading between tokenized equities, underlying equities, equity perpetual futures, and traditional futures, unlocking new relative value and spread trading opportunities.”

xStocks is designed to be interoperable by default. Assets move between centralized exchanges, self-custodied wallets, and onchain protocols without friction. The CoinRoutes integration extends that reach into institutional execution infrastructure, where capital allocation decisions happen at scale and execution quality is non-negotiable.

The integration is live now. CoinRoutes clients can access xStocks directly through their existing platform.