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Kraken is now allowing eligible users to pledge tokenized stocks and exchange-traded funds as collateral for futures and margin trading, without requiring them to sell those holdings first.
The arrangement grafts traditional equity exposure directly into crypto derivatives infrastructure — a structural shift that deserves more scrutiny than the headline suggests.
The exchange has not disclosed which specific tokenized stocks and ETFs qualify, nor what haircuts or concentration limits apply.
What the Mechanism Actually Does Tokenized stocks are blockchain-based instruments that track the price of listed equities — think a digital wrapper around a share of a publicly traded company, issued and redeemable through a third-party custodian or smart-contract protocol.
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