Kraken Opens Jersey Mike's IPO and Tokenized Stock JMKEx to Retail Investors

Kraken enables retail access to Jersey Mike's IPO via direct subscription or 1:1 backed tokenized stock JMKEx, with trading on xStocks Alliance platforms.

Woofun AI reports that Kraken has enabled eligible U.S. users to apply for book-entry shares in Jersey Mike's planned IPO at the offering price. Simultaneously, users across more than 110 jurisdictions may apply for JMKEx, a tokenized stock asset backed 1:1 by the underlying equity and held with regulated custodians.

JMKEx will become tradable on Kraken and participating xStocks Alliance platforms five days a week following the IPO completion. The token supports cross-platform transfers within the alliance and integration with compatible decentralized finance applications. Jersey Mike's, a U.S. sandwich chain with over 3,300 locations, is expected to list on the New York Stock Exchange under ticker JMKE with an IPO price range of $21 to $25 per share.