Fensory takes a different stance on two things: who holds the asset, and what you can do with it after you buy. Both are legitimate choices. Here is how they line up.
Where Kraken is strong
Kraken is a large, established exchange with deep liquidity, a familiar trading interface, and no wallet for you to manage. Its xStocks catalog spans roughly 100+ tokenized US equities, and as of July 2026 select xStocks (including SPYx, QQQx, AAPLx, GOOGLx, TSLAx, and NVDAx) are eligible as collateral for futures and margin trading on Kraken Pro, outside the US. If you want to buy a tokenized stock the way you would buy any other asset on an exchange, hold it there, and sell it later with tight spreads, Kraken does that well. For many people, that convenience is the whole point.
Where Fensory differs
Two differences matter.
- Self-custody. On Kraken the exchange holds the token for you. With Fensory the token settles to your own wallet, so you control it and can use it anywhere onchain. Different trust model, and the right one depends on what you value.
- Composability. Kraken is built for buying, holding, and trading, and lets you post select xStocks as collateral for margin and futures on Kraken Pro, outside the US. That is leverage on the exchange. Fensory is built so the position does more: earn DeFi yield on it across a range of protocols, compare it against the rest of the market, and use a built-in AI to find and vet opportunities. It also aggregates both Ondo and xStocks. Fensory's AI-agent trading over MCP is coming soon; perpetuals are next.
In short, Kraken is an excellent exchange for buying and holding tokenized stocks. Fensory is a self-custody, composable home for using them.
Side by side
| | Kraken (xStocks) | Fensory |
| ----------------------------- | ---------------------------------------------------------------------- | -------------------------- |
| Custody | Custodial, exchange holds it | Self-custody, your wallet |
| Tokenized stock issuer | xStocks (Backed, Kraken-owned) | Ondo and xStocks |
| Settlement | Solana, Ethereum, BNB Chain (and TON via Telegram Wallet) | Ethereum and BNB Chain |
| Liquidity | Deep, exchange-grade | DeFi-native |
| DeFi yield on the position | Collateral for leverage on Kraken Pro, not DeFi yield across protocols | Yes, across many protocols |
| Compare tool and AI discovery | Not built in | Yes |
| Best for | Exchange convenience and liquidity | Self-custody and composing |
Which one is for you
Choose Kraken if you want the convenience and liquidity of a trusted exchange, are comfortable with the exchange holding your assets, and mostly plan to buy and hold.
Choose Fensory if you want the tokenized stock in your own wallet and intend to put it to work: earn yield, compare across the market, and use AI, all in one composable app.
Both give you access to tokenized stocks. The difference is who holds them and how far you can take them.
App at Fensory.com