Only retail Kraken clients in certain countries are eligible to purchase xStocks like PNFPx. A complete list of supported countries can be found here.
Tokenized Pinnacle Finl Partners (PNFPx) is a digital token on a blockchain that is backed 1:1 by actual company stock held in custody by a regulated third party. Tokenized equities, or xStocks, are typically more flexible, transparent and accessible than traditional shares—allowing for 24/5 trading in eligible geos worldwide.
xStocks provide a convenient, accessible way for global investors to gain exposure to popular US stocks and ETFs, with 24/5 trading. Purchase different tokenized equities using crypto, stablecoins, or USD.
Yes, it’s possible to invest in tokenized stocks using cryptocurrency held in your Kraken wallet.
Third-party depositary institutions secure all underlying stocks in accordance with a custody agreement to which Kraken is not a party.
Yes. All xStocks, including PNFPx, are fully collateralized by traditional shares held in reserve by a regulated third-party custodian.
To buy tokenized Pinnacle Finl Partners (PNFPx) with Bitcoin (BTC), start by opening the Kraken mobile app—available for download on both Android and iOS. You can use BTC you've transferred from another wallet, or purchase it directly in the app to complete your xStock purchase.
No. While xStocks like PNFPx provide indirect exposure to Pinnacle Finl Partners (PNFP) shares, they do not provide any ownership rights over the underlying stocks.
No. Purchasing Pinnacle Finl Partners (PNFPx) is not the same as holding real Pinnacle Finl Partners shares. xStocks simply provide indirect exposure to the price changes of traditional company stocks via blockchain-based tokens. As such, tokenized Pinnacle Finl Partners (PNFPx) holders do not possess ownership rights over the underlying stock that backs each token, nor are they entitled to receive any information from the respective company stock issuer.
Clients can purchase fractional shares of PNFPx, with investments starting as low as $1 per xStock.
Yes. You can withdraw your PNFPx tokens to any compatible on-chain wallet.
xStocks can be traded 24/5, providing access outside of traditional market hours. Weekend trading availability is in development.
Tokenholders may redeem their xStocks with Backed (for an additional fee), or sell them for USD, crypto, or stablecoins directly on the Kraken platform. Remember, all investments in xStocks are subject to fees, as set forth in the Base Prospectus for each xStock. Consequently, the value of your xStocks at redemption may be less than the potential return of actual ownership of the underlying stock or shares of companies held during the same period.
Yes. When investing in xStocks such as PNFPx, your capital is at risk and you could lose the total amount you’ve invested in any particular xStock you purchase.
