Kraken Introduces 24/7 Perpetuals on Gold, Indices, and Tech Giants

Kraken launches 24/7 perpetual futures on tokenized assets.

The cryptocurrency exchange Kraken has launched round-the-clock trading of perpetual futures on tokenized assets.

xStocks Perps just expanded.$TSLAx, $AAPLx, $NVDAx and more now trade 24/7 on Kraken.

Long or short, anytime.

Click to trade @xStocksFi ⤵️

— Kraken (@krakenfx) February 24, 2026

The instrument operates on the xStocks platform by Backed Finance AG. Traders now have access to 10 contracts, including:

• derivatives on gold;
• S&P 500 and Nasdaq 100 indices;
• securities of tech giants (Nvidia, Apple, Google, Tesla) and the Robinhood platform;
• shares of crypto companies — Strategy and Circle.

Qualified investors from over 110 countries, excluding the United States, have access to the new instruments. The tokenized assets are fully backed by underlying contracts at a 1:1 ratio.

Kraken’s Head of Consumer Business, Mark Greenberg, emphasized that the initiative adapts traditional finance to the 24/7 nature of the crypto market. According to him, the perpetual futures format provides capital with the necessary speed, flexibility, and reliable risk management mechanisms.

Competition and Liquidity Provision

The exchange continues to expand its range of derivatives, erasing the traditional time boundaries of the stock market. 

Similar round-the-clock trading of contracts on major company stocks has already been launched by platforms like BitMEX and Lighter. However, Kraken emphasizes its exclusive use of regulated benchmarks.

The company has not disclosed the name of its liquidity provider, but it is known for its close partnership with CME Group. Previously, exchange representatives confirmed that contracts from this platform form the basis of their products on indices, metals, energy resources, and fiat.

Financial Performance and IPO Preparation

Earlier this month, Kraken Co-Head Arjun Sethi confirmed the completion of the acquisition of Backed, the issuer of xStocks. At that time, the exchange reported adjusted revenue of $2.2 billion for 2025. Ahead of its IPO, the company plans to build a universal trading ecosystem akin to Robinhood.

In November, the platform filed a confidential application for an initial public offering. This was preceded by a funding round that valued the company at $20 billion. In January, a SPAC structure related to the exchange, KRAKacquisition, raised $345 million and successfully listed on Nasdaq.

Since the launch of xStocks tokenized shares, trading volumes have reached $25 billion.