Kraken has opened access to the upcoming initial public offering of software company Bending Spoons through its xStocks platform, allowing eligible customers in the European Economic Area (EEA) and selected international markets to register interest before the Nasdaq listing.
Customers who receive an allocation will receive BSPx, a tokenized representation of Bending Spoons shares backed 1:1 by the underlying equity. The tokens will be credited to users’ Kraken accounts on the company’s listing day and will be tradable from the first trading session.
Kraken said customers can submit a non-binding indication of interest through its mobile app, with funds reserved rather than charged during the allocation process. Allocations are not guaranteed and may be full, partial, or unavailable depending on demand.
BSPx will trade 24 hours a day, five days a week, on Kraken and other participating xStocks Alliance platforms. According to Kraken, the tokenized asset can also be transferred across supported platforms and used with compatible decentralized finance applications.
Bending Spoons has filed to list on Nasdaq under the ticker BSP. The Italian technology company owns several well-known digital platforms, including WeTransfer, Evernote, Vimeo, AOL, and Eventbrite, and says its portfolio reaches around 500 million monthly users.
Kraken introduced xStocks earlier this year as a tokenized equities platform that gives eligible international investors access to U.S.-listed shares and IPOs via blockchain-based tokens.
The service is not available to investors in the United States, the United Kingdom, Canada, or Australia.
