Kraken Introduces 24/7 Perpetual Futures Trading for Gold and Stocks

Kraken Launches 24/7 Perpetual Futures on Gold and Stocks: What You Need to Know

Crypto exchange Kraken has rolled out a new product — round-the-clock perpetual futures trading on tokenized assets. Platform users can now trade derivatives on gold, as well as shares of major tech companies including Tesla, Apple, and Nvidia, all 24/7 with no weekends or downtime.

The move marks Kraken's expansion beyond the traditional crypto market into tokenized financial instruments that combine blockchain infrastructure with access to conventional assets. For traders already comfortable on crypto platforms, this means exposure to tokenized traditional assets without switching to a different venue.

What Are Perpetual Futures on Tokenized Assets?

Perpetual futures are a type of derivative contract that, unlike standard futures, has no expiration date. Traders can hold positions indefinitely, making the instrument especially attractive for active trading. A funding rate mechanism keeps contract prices closely aligned with the spot value of the underlying asset, ensuring accurate price discovery.

Kraken's offering covers contracts pegged to the value of real-world assets:

• Gold — the classic safe-haven asset, in high demand during periods of economic uncertainty
• Tesla stock — one of the most popular instruments among retail traders
• Apple stock — the world's largest tech company by market cap
• Nvidia stock — the dominant player in semiconductors and artificial intelligence

The key advantage is the ability to trade these assets around the clock, while traditional stock markets only operate during set hours and close on weekends. This opens up new possibilities for traders across different time zones who previously had to work around NYSE or NASDAQ schedules.

At launch, users gained access to ten contracts spanning multiple asset categories. Beyond gold and individual stocks, the lineup includes S&P 500 and Nasdaq 100 index derivatives, as well as shares of Google and brokerage platform Robinhood. Crypto-native stocks from Strategy and Circle round out the offering.

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 xStocks Platform: How Kraken's Product Works

xStocks serves as the bridge between crypto and traditional finance. Built on technology from Backed Finance AG, the platform gives users access to derivatives on conventional assets through the familiar infrastructure of a crypto exchange.

Key features of xStocks:

1. Trade derivatives on stocks and commodities without needing a traditional brokerage account
2. Access markets 24 hours a day, 7 days a week — including weekends and holidays
3. Use the familiar crypto exchange interface to work with traditional assets

All tokenized assets are fully backed by underlying contracts at a 1:1 ratio, maintaining their peg to the real value of the instruments they track. Access is currently limited to qualified investors across more than 110 jurisdictions, with US residents excluded.

Why This Matters for the Market

This launch represents another step toward erasing the line between traditional and digital financial markets. Trading assets that are normally only available during exchange hours — now accessible nonstop — creates fresh opportunities for global capital flows and arbitrage strategies.

Kraken's Head of Consumer Mark Greenberg highlighted how traditional finance is adapting to the always-on nature of crypto markets. In his view, the perpetual futures format delivers the capital velocity, operational flexibility, and risk management tools that modern traders demand. The exchange stresses its reliance on exclusively regulated benchmarks, setting its approach apart from competitors.

Rival platforms BitMEX and Lighter have already launched similar products, but Kraken is positioning itself as the option that adheres to traditional financial sector standards.

Strategic Partnership and Liquidity

While Kraken hasn't disclosed its liquidity provider by name, the exchange's close collaboration with CME Group is well documented. Exchange representatives have previously confirmed that CME contracts form the backbone of their products covering indices, metals, energy, and fiat currencies.

Financial Performance and What's Next

In early February, Kraken co-CEO Arjun Sethi confirmed the completion of the acquisition of Backed — the company behind xStocks technology. The exchange also reported adjusted revenue of $2.2 billion for full-year 2025.

Kraken is actively preparing for an initial public offering, having filed a confidential registration in November of last year. That filing followed an investment round that valued the exchange at $20 billion. In January, the related SPAC vehicle KRAKacquisition raised $345 million and successfully debuted on Nasdaq.

The strategic vision is to build a universal trading ecosystem along the lines of Robinhood. Since the xStocks tokenized shares platform went live, cumulative trading volumes have hit $25 billion — a clear sign of growing appetite for hybrid financial instruments.