what's Palantir Technologies xStock (PLTRx)?

PLTRx is a tokenized stock representing shares of Palantir Technologies (PLTR), issued as part of Kraken's xStocks platform. It provides global investors with exposure to U.S. equities through blockchain, enabling 24/5 trading using cryptocurrencies, stablecoins, or USD. Each PLTRx token is fully backed by actual PLTR shares held in custody by regulated third-party institutions. The asset bridges traditional finance and crypto by allowing seamless purchase and holding on-chain while mirroring the underlying stock's performance. Custody is managed independently, ensuring 1:1 collateralization without Kraken's direct involvement in share holding.

PLTRx listed on Flash Trade as an equity perpetual with 20x leverage, trading 24/5.