Kraken Opens Ōura IPO Interest Registration For 110 Countries Via xStocks

Kraken has opened non-binding indications of interest for Ōura's expected Nasdaq IPO through its xStocks ecosystem, giving eligible customers in more than 110 countries a chance to register interest before the smart-ring maker's public listing. The registration window, operated by Payward Services, allows users to submit non-binding indications of interest within a pre-announced price range, according to Business Wire. This is not a completed listing — it is a pre-IPO registration window that precedes the Nasdaq debut.

Eligible customers of Kraken and other xStocks Alliance partners can now register their interest, with the process designed to give retail investors access to IPO shares at the offering price through tokenized equities. The registration process is open to non-US eligible investors, who can trade US stocks like Apple or Tesla directly on-chain through xStocks, featuring 24/7 trading, instant settlement, and DeFi integration, according to RootData.

Ōura, the Finnish health-technology company behind the Oura Ring, has filed for a Nasdaq IPO under the ticker OURA, with reports indicating a valuation target of up to $16 billion. The company's revenue grew 74% year-over-year to $1.21 billion in the nine months ended June 2025, according to LinkedIn posts citing company disclosures. The IPO is expected to raise approximately $2.2 billion at a $15.62 billion valuation, with 36.5 million of the 50 million shares on offer being sold by existing shareholders, according to valueaddvc.com.

Payward Services, the B2B division of Kraken's parent company, operates the xStocks Alliance, a multi-exchange infrastructure network that enables tokenized IPO subscriptions. The system allows users to subscribe at the issuance price, with Kraken and Bybit among the platforms adopting the mechanism, according to ChainCatcher.