NVDAx is the most liquid tokenized NVIDIA product, part of Kraken's xStocks suite of 60 tokenized equities and ETFs. An SPL token on Solana, NVDAx tracks NVIDIA 1:1, available in 160+ countries with a $123 million tokenized market cap and zero trading fees when purchasing with USDG or USD.
| Attribute | Detail |
|---|---|
| Token Standard | SPL (Solana) |
| Issuer | Backed Finance / Kraken |
| Market Cap | ~$123M |
| Minimum Investment | $1 |
| Trading Fees | Zero (USDG/USD on Kraken) |
| Trading Hours | 24/5 on Kraken, 24/7 on-chain |
| Self-Custody | Solana wallet withdrawal supported |
| Dividends | Auto-reinvested (token balance increases) |
| Countries | 160+ (excludes US, Canada, UK, Australia) |
| Shareholder Rights | No voting rights |
1. Create and verify a Kraken account. 2. Navigate to xStocks and search for NVDAx. 3. Accept Terms of Service and confirm non-US status. 4. Fund with USD, USDG, or crypto. 5. Buy from $1 with instant settlement. 6. Optionally withdraw to a self-custody Solana wallet for 24/7 on-chain trading via DEXs like Orca.
NVDAx is one of 60 tokenized assets in the xStocks program, which has surpassed $20 billion in total trading volume with 37,000+ unique holders. Other popular tokens include TSLAx (Tesla, $71M), AAPLx (Apple, $10.6M), and GOOGLx (Alphabet, $8M). Kraken's acquisition of Backed Finance in December 2025 and partnership with Deutsche Börse in February 2026 have strengthened the institutional infrastructure behind xStocks.
Not available to US persons. See Disclaimer.
NVDAx operates within Kraken's xStocks infrastructure, which represents the most successful tokenized equities platform by every measurable metric: $20+ billion in total trading volume, 37,000+ unique holders across 160+ countries, and 60 available tokenized equities and ETFs. The platform's success stems from three key design decisions that differentiate it from competitors.
Zero trading fees eliminate the friction that historically prevented retail adoption of tokenized securities. When purchasing NVDAx with USDG (Kraken's native stablecoin) or USD, there are no commissions, no spreads beyond the market price, and no hidden fees. This pricing model mirrors the zero-commission revolution that Robinhood brought to traditional equities — but extends it to 24/7 blockchain-native trading.
The $1 minimum investment is transformative for global accessibility. At approximately $185-192 per NVIDIA share, purchasing a single share through traditional brokerages requires significant capital. NVDAx allows investors in emerging markets to build meaningful positions through regular small contributions — a $50 monthly investment accumulates approximately $600 in tokenized NVIDIA exposure annually, accessible from a mobile phone in 160+ countries.
Self-custody withdrawal distinguishes xStocks from centralized fractional share platforms. When you purchase NVDAx on Kraken, you can withdraw the tokens to any compatible Solana wallet — Phantom, Solflare, Ledger (Solana app). Once in self-custody, your tokens are entirely under your control, tradeable 24/7 on decentralized exchanges like Orca, and composable with Solana DeFi protocols. No traditional brokerage offers equivalent self-custody functionality.
NVIDIA pays a quarterly dividend of $0.01 per share. For NVDAx holders, dividends are automatically reinvested — your token balance increases proportionally rather than receiving cash distribution. This auto-compounding mechanism is particularly beneficial for fractional investors: at traditional brokerages, dividend payments on fractional shares may fall below minimum distribution thresholds, effectively losing value. xStocks' auto-reinvestment ensures every dividend penny compounds into your position regardless of holding size.
For investors holding larger positions, the auto-reinvestment approach means dividends are immediately deployed back into NVIDIA exposure rather than sitting as uninvested cash. Over long holding periods, this automatic compounding can meaningfully enhance total returns, particularly if NVIDIA increases its dividend — currently modest at approximately 0.02% yield — as the company matures.
NVDAx trading on Kraken operates 24/5 (Monday through Friday), mirroring the availability of the underlying NVIDIA stock price feeds. However, once withdrawn to a self-custody Solana wallet, NVDAx can be traded 24/7 on decentralized exchanges. This 24/7 availability is particularly valuable during weekend and after-hours events — earnings reports, product announcements, geopolitical developments — that move NVIDIA's expected opening price. Tokenized holders can manage their positions in real-time while traditional shareholders must wait for Monday's market open.
Kraken operates under regulatory licenses across multiple jurisdictions including the United States, European Union, United Kingdom, and Australia. The exchange has never been hacked and maintains industry-leading security practices including cold storage for the majority of customer assets, multi-factor authentication, and regular third-party security audits. xStocks tokens held on Kraken benefit from these security protections.
The regulatory framework for NVDAx operates on three levels. First, the Swiss DLT Act governs the issuance by Backed Finance AG. Second, EU prospectus approval enables compliant distribution across EEA member states. Third, Kraken's exchange licenses in each operating jurisdiction govern the trading platform. This multi-layered regulatory structure provides stronger protections than most crypto-native tokenized products, though it has not been tested under stress conditions like issuer bankruptcy or regulatory enforcement actions.
NVDAx commands 12.8% of the entire $963 million tokenized equities market — more than all other individual stock tokens combined. This dominance reflects NVIDIA's unique positioning at the intersection of the two most powerful investment narratives of 2026: artificial intelligence and tokenization. Retail investors worldwide seek NVIDIA exposure because the company's 81%+ GPU market share makes it the most direct play on AI infrastructure spending. Tokenization provides the access layer for the 160+ countries where traditional US brokerage access is limited or unavailable.