Trading derivatives and other financial instruments, including leveraged financial instruments, involves significant risks and is not appropriate for all investors. See our Risk Disclosure to learn more.

Custody services are provided by Payward Financial, Inc. or Payward Europe Solutions, Ltd, as applicable. Payward Financial, Inc. d/b/a Kraken Financial is not an FDIC-insured bank and deposits are neither insured by nor subject to the protections of the FDIC. Payward Europe Solutions Limited, trading as Kraken, is regulated by the Central Bank of Ireland. Rewards are variable and not guaranteed; you can lose some or all of your assets. Interacting with on-chain smart contracts involves risks which are further detailed in the terms of service, including technological risk (bugs, exploits, and oracle/MEV/bridge failures), market risk (price volatility, de-pegs, and liquidation where relevant), and operational risk (irreversible transactions, gas fees, network congestion). Kraken does not control third-party protocols. Offered by Payward Wallet, LLC. Fees apply. Availability varies by jurisdiction. Geographic restrictions apply. Projected annual rate is an estimate based on the average staking rewards accrued over the past period, before commission, and is subject to change. Staking involves risks including no guarantee of rewards, potential loss from slashing or hacks, and depreciation in the value of assets while staked. Please refer to Kraken's Terms of Service for additional information.

xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. xStocks are not nor will be registered with any local securities regulators. PDSL (Kraken) does not provide investment advice and/or recommendations, and, no communication, through any Kraken App or website or otherwise, should be construed as such. Individual investors should make their own decisions or seek professional independent advice if they are unsure as to the suitability / appropriateness of any investment for their circumstances or needs, including potential tax treatment. Investing in xStocks involves an element of risk. The value of an investment may go down as well as up, and past performance is not a reliable indicator of future results. Not available in the U.S. or to U.S. persons. Geo restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for xStocks at https://assets.backed.fi/legal-documentation to learn more.