Ondo and Kraken Apply Different EEA Access Rules to Tokenized Stocks

Tokenized-stock access in the European Economic Area (EEA) varies by platform: Kraken requires users to pass a questionnaire for xStocks, while many Ondo Stocks are available to retail investors.

For EEA residents seeking professional-client or qualified-investor status through Ondo, two of three criteria must be met: a financial portfolio of at least €500,000; 10 significant transactions per quarter during the previous four quarters; or one year of financial-sector experience. The portfolio threshold is one part of this status test, not a blanket requirement for every buyer. Many Ondo Stocks are available to retail investors, while some are restricted to professionals. Eligibility should be assessed from each offering’s prospectus, final terms and key information document.

Kraken requires EEA customers to pass a questionnaire before they can trade xStocks. Once approved, customers can buy, sell and convert xStocks with fiat. They cannot use Kraken Pro order books or its API to trade xStocks, though Kraken Pro’s Convert feature is available.

Neither product gives holders direct ownership of the tracked securities. Ondo Stocks provide economic exposure to underlying assets, including dividends after applicable tax withholding, but no rights to those assets. Kraken’s EEA terms exclude ownership and voting rights for xStocks holders.

Ondo’s products are unavailable in the United States. Kraken xStocks are unavailable in the United States and to U.S. persons.