Crypto exchange Kraken is launching what it calls the first regulated perpetual futures contracts based on tokenized stocks, the firm told CoinDesk.

The products, available to eligible non-U.S. users in more than 110 countries, track digital versions of major U.S. stocks, indices and a gold ETF, building on the tokenized equities offering of xStocks that Kraken acquired in December.

Initial listings include tokenized versions of the S&P 500, the Nasdaq 100, Apple, Nvidia, Tesla and SPDR’s gold ETF (GLD), the firm said.

Kraken’s launch matters because perpetuals trading has enjoyed a rapid growth, dominating crypto derivatives trading. Blockchain-based decentralized exchanges processed over $600 billion in perps trading volume in January,…