Crypto exchange Kraken said on Friday that eligible customers in more than 110 countries, including the EEA, can register interest to participate in SpaceX’s IPO through its xStocks tokenized equities product.
Successful applicants will receive SPCXx, which Kraken describes as a “1:1 backed tokenized representation of SpaceX equity.” The company said SPCXx will trade 24/7 on Kraken and participating xStocks Alliance venues from day one of listing, including the first weekend after the IPO, while traditional brokerages are closed.
Kraken’s own support materials note that xStocks provide price exposure only, with no voting or dividend rights. The product is unavailable in the US, UK, Canada and Australia.
The launch comes as Bloomberg reported that SpaceX is seeking to raise $75 billion in its IPO, implying a valuation of roughly $1.77 trillion.
“From today, someone in 110 countries can register for SpaceX from their phone, and the moment it lists they trade it: nights, weekends, no waiting for an opening bell,” said Arjun Sethi, Co-CEO of Payward, Kraken’s parent company.
Kraken said it plans to add more IPOs to the xStocks framework in the coming weeks.
