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Corporate Actions with xStocks on Kraken

Last updated: 5.9.2025

Kraken offers xStocks, powered by Backed.fi, that are designed to reflect the price and behavior of traditional stocks. These are “rebasing assets,” meaning their balances automatically adjust in response to corporate actions like stock splits or dividends. Here’s what that means for you.

A stock split increases the number of shares in circulation but lowers the price per share proportionally. For example, if Apple (AAPL) announces a 4-for-1 stock split, one AAPLx share becomes four, each at one-quarter the original price.

A reverse stock split reduces the number of shares but increases their price. Your total dollar value remains unchanged.

Dividend payouts will be automatically reinvested into more of the same token. Rather than receiving a cash dividend, your xStocks balance will increase to reflect the dividend.

What this means for you:

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    You don’t get a cash deposit.

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    You do get more exposure to the stock. Your tokenized balance increases to reflect the dividend, just as if you reinvested it automatically.

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