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Kraken Launches Tokenized U.S. Equities for 24/7 Trading Outside U.S.

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Kraken, the crypto exchange, announced Thursday it is launching tokenized versions of U.S. stocks, including Apple, Tesla, and Nvidia, allowing investors outside the U.S. to trade equities 24/7 — a step toward bridging traditional finance and blockchain.

The product, called xStocks, provides digital tokens that represent ownership of publicly traded U.S. equities. Investors won’t directly hold the underlying shares, but rather tokens that mirror the stocks’ value, offering flexibility and round-the-clock access typically unavailable in traditional stock markets.

Key Details:

  • Availability: Limited to select markets outside the U.S.

  • Trading hours: Available 24/7

  • Not offered to: U.S. customers

  • Underlying equities: Includes high-profile companies such as Apple, Tesla, and Nvidia

Kraken did not disclose which countries or jurisdictions will have access to xStocks, but the move reflects the growing interest in tokenizing real-world assets.

Why It Matters

Tokenization — issuing blockchain-based digital versions of real assets — is increasingly being seen as a tool to:

  • Expand market access globally

  • Enable fractional ownership and enhanced liquidity

  • Offer trading during non-market hours, especially useful for international investors

“Tokenized securities could radically reshape how retail and global investors access financial markets,” proponents argue.

Earlier this year, Robinhood CEO Vlad Tenev endorsed tokenization in a Washington Post op-ed, suggesting it could also open access to private markets.

Broader Context

The launch comes as enthusiasm for blockchain intensifies, partly fueled by:

  • Bitcoin’s strong performance

  • Expectations of lighter regulation under U.S. President Donald Trump

  • Growing demand to integrate traditional assets into decentralized finance (DeFi) systems

While tokenized securities are still in their early adoption phase, Kraken’s initiative places it at the forefront of hybrid finance innovation, offering a glimpse into the future of global capital markets.

OpenAI Acquires Jony Ive’s Startup for $6.5 Billion, Taps iPhone Designer as Creative Head for AI Devices

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OpenAI has acquired io Products, the hardware startup co-founded by legendary Apple designer Jony Ive, in a $6.5 billion all-stock deal, and named him creative head of the company as it seeks to build breakthrough devices for the generative AI era.

The move marks OpenAI’s most ambitious hardware play yet, combining Ive’s iconic product design legacy with the company’s fast-evolving AI capabilities. Ive’s design firm LoveFrom has been collaborating with OpenAI for the past two years, exploring new device concepts designed to move beyond the traditional smartphone and laptop interfaces.

“The products that we’re using to deliver and connect us to unimaginable technology — they’re decades old,” said Sam Altman and Jony Ive in a video posted to OpenAI’s blog.
“Surely there’s something beyond these legacy products we have.”

Altman teased a working prototype — calling it “the coolest piece of technology the world will have ever seen” — though no product details were shared.

Strategic Implications

OpenAI previously held a 23% stake in io Products, according to a source familiar with the matter. The $6.5 billion valuation is based on OpenAI’s estimated market value of $300 billion.

This acquisition underscores OpenAI’s desire to control its own hardware platform, breaking away from reliance on Apple’s iOS or Google’s Android to distribute its AI services, such as ChatGPT and other generative tools.

“OpenAI is interested in owning the next hardware platform so they don’t have to sell their products through Apple or Google,” said Gil Luria, analyst at D.A. Davidson.

Competitive Landscape

The AI hardware category is heating up, with recent attempts including:

  • Humane’s AI Pin, developed by ex-Apple executives, which was recently shut down and acquired by HP after poor reception due to limited battery life and high cost.

  • Rabbit’s r1 device, which sold over 100,000 units but has drawn criticism for limited functionality compared to smartphones.

  • Meta’s Quest and Ray-Ban smart glasses, part of the company’s long-term push into AI-powered wearables.

Apple, meanwhile, has been slow to integrate generative AI tools, with its Apple Intelligence features lagging behind offerings on Android. The news of Ive’s alignment with OpenAI sparked a more than 2% drop in Apple shares.

What’s Next?

OpenAI now positions itself not just as a software leader in AI, but as a potential hardware disruptor, aiming to redefine how users physically interact with intelligent systems. With Jony Ive on board and a prototype already in development, the tech world is watching closely to see if OpenAI can succeed where others have faltered.

Apple Seeks Temporary Stay from US Appeals Court on Epic Games Verdict

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Apple has formally requested that a federal appeals court temporarily suspend key parts of a recent ruling requiring the company to open up its App Store to more competition. This request was filed with the San Francisco-based 9th US Circuit Court of Appeals as Apple seeks to pause the enforcement of the order while it pursues a legal challenge. The tech giant warned that if the order issued on April 30 is not stayed, it could suffer irreparable harm.

The ruling in question stems from a 2020 antitrust lawsuit filed by Epic Games, the creator of the popular game Fortnite. The case has been closely watched for its potential to reshape how Apple manages its App Store and interacts with third-party app developers. Apple has been found in contempt for allegedly violating an earlier court injunction by maintaining certain policies that the judge deemed restrictive.

US District Judge Yvonne Gonzalez Rogers ordered Apple to halt several practices designed to sidestep the original injunction. Among these, Apple faces restrictions on implementing a new 27 percent fee on developers for app purchases made outside the App Store. Additionally, the judge’s order bars Apple from limiting where developers can place links directing users to alternative purchase options outside of an app.

In its court filing, Apple argued that forcing the company to comply with the ruling would mean giving away access to its products and services for free, which it says is legally untenable. The company is actively challenging these specific provisions, asserting that they interfere with Apple’s ability to control core aspects of its business and set terms for the App Store ecosystem.