Summary
- Fundrise’s VCX Innovation Fund will be tokenized into a new asset called VCXx in partnership with Kraken’s xStocks platform.
- VCXx will provide on-chain exposure to private late-stage technology companies such as SpaceX, OpenAI, Anthropic, and Databricks through a single token.
- Eligible investors will be able to purchase VCXx using USDG or US dollars, with tokens designed to integrate into broader on-chain trading, collateral and DeFi strategies.
The Fundrise technology investment platform is associate with cryptocurrency exchange Kraken to tokenize shares of its Fundrise Innovation Fund VCX, according to a report from Crowdfund Insider. The deal will see the NYSE-listed VCX vehicle wrapped in a blockchain-based representation on Kraken’s tokenized stock venue, xStocks, under the symbol VCXx.
Kraken’s xStocks framework, powered by Payward, already offers over 100 fully backed tokenized US stocks and ETFs, and the addition of VCXx marks its first step towards tokenized access to a diversified private technology portfolio. Fundrise CEO Ben Miller said, “We built VCX to act as a bridge between the public and private markets,” arguing that tokenizing the fund on xStocks allows “individual investors to own a share of the world’s best private technology companies” through a regulated structure.
The VCXx token will be issued by Backed Assets (JE) Limited and offered through Payward Digital Solutions, with trading commencing on xStocks “in the coming days.” fundraising and Kraken They say VCXx will be fully backed by underlying VCX shares and designed to move seamlessly between centralized exchanges, self-custodied wallets, and on-chain applications.
According to xStocks’ launch materials, VCXx will be able to be purchased using USDG (the dollar-denominated token on Kraken’s platform) or US dollars, giving eligible investors outside the US a way to gain exposure to the VCX portfolio. That portfolio includes stakes in late-stage private companies like SpaceX, OpenAI, Anthropic and Databricks, pooling them into a single tokenized liquid asset that can also be used as collateral or integrated into automated strategies.
The Fundrise Innovation Fund was launched to open late-stage private technology deals that are typically reserved for ultra-high-net-worth institutions and investors. By adding VCX to the chain, xActions and Fundrise are expanding tokenized stocks beyond public stocks into private market exposure, a segment Kraken has called “one of the most sought-after and historically inaccessible parts of the market.”
The partners argue that tokenization VCX Shares allow you to access, transfer and integrate diversified exposure to private technology in DeFi with the same flexibility as other digital assets. If VCXx gains liquidity, it could become a model for how other vehicles and exchange-traded funds package private holdings into programmable, globally tradable tokens without dismantling existing regulatory structures.
