TL;DR
- Ōura, the health intelligence company behind the Oura Ring, the world’s smallest smart ring, is listing on Nasdaq under the ticker OURA.
- Eligible Kraken customers across the EEA and many global markets can submit a non-binding indication of interest through xStocks, within an indicated price range of $40.00–$44.00 per share, plus a 5% fee. Funds are reserved, not charged.
- Customers who receive an allocation get OURAx, a 1:1 backed tokenized representation of Ōura equity, in their Kraken portfolio on listing day.
- IPO Access through xStocks is now available on Kraken Pro for the first time, and OURAx will be available to trade on Kraken, participating xStocks Alliance platforms, and compatible DeFi venues from listing day.
More than 5 million people already wear an Oura Ring. Founded in Finland and headquartered in San Francisco, Ōura built a health intelligence platform around one idea: put clinical-grade tracking on your finger.
The Oura Ring, the world’s smallest smart ring, continuously monitors more than 50 health metrics including sleep, heart rate, activity, stress, temperature, and metabolic signals across 56 markets. Revenue reached $1.43 billion for the twelve months ended June 30, 2026, growing 74% year over year. Ōura is now listing on Nasdaq under the ticker OURA. You already wear it. Now you can gain price exposure to it.
Until now, most non-US retail investors had few ways to take part in an IPO like this. In most cases they could only buy a stock once it began trading on the open market, often well after institutional participants had secured their positions.
Through xStocks, eligible Kraken customers across the EEA and many global markets can submit a non-binding indication of interest in the Ōura IPO. Customers who receive an allocation will get OURAx, a 1:1 backed tokenized representation of Ōura equity, delivered to their Kraken portfolio on listing day and tradable from day one. We believe that when a company goes public, the chance to take part should be public too.
Allocation is not guaranteed, is not first-come, first-served, and is decided by the IPO underwriters based on demand. High demand may result in a full, partial, or no allocation.
How it works
- Eligible customers can submit a non-binding indication of interest in OURAx today, within an indicated price range of $40.00 to $44.00 per share, plus a 5% fee. Funds are reserved, not charged, and the process is available in the Kraken app and on Kraken Pro.
- On the day of Ōura’s public listing, customers who receive an allocation will have their OURAx delivered directly to their Kraken balances. Anything not allocated is refunded automatically.
- Allocation is not first-come, first-served and is not guaranteed. Outcomes may be full, partial, or zero, depending on availability and demand.
ŌURAx and the xStocks framework
Once listed, OURAx will be available to trade on Kraken and participating xStocks Alliance platforms. This is powered by xStocks, Payward’s tokenized equities framework, which is built to make exposure to public equities more accessible, portable, and compatible with the broader crypto ecosystem. Every xStock is backed 1:1 by the underlying share and held in custody by a regulated entity.
Unlike a traditional brokerage account, xStocks assets can travel with the investor across participating xStocks Alliance platforms, move onchain, and integrate with compatible DeFi applications. The result is a capital market that is global and accessible by design.
Ōura is the fourth company to come through the xStocks IPO Access pipeline this year, following SpaceX, Bending Spoons, and Jersey Mike’s. As more companies head to public markets, OURAx is how Kraken customers can submit their interest from the first session, alongside institutions rather than behind them.
In the EEA, IPO xStocks are tokenized equities providing price exposure only — not direct ownership. Allocation is not determined by xStocks or Kraken and may be full, partial, or none; it is not guaranteed, and any funds not allocated are returned. The value of IPO xStocks may go down as well as up after listing. xStocks are tokenized securities issued by Backed Assets (JE) Limited (“BAJL”) pursuant to an EU-registered prospectus, providing price exposure only, with no voting or dividend rights. IPO xStocks are made available in the EEA by Payward Europe Digital Solutions (CY) Limited (“PEDSL-CY”), authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), licence no. 342/17. Not available in the U.S. or to U.S. persons, or in the United Kingdom, Canada, or Australia. Geo restrictions apply.
IPO xStocks are made available outside the EEA, by Payward Digital Solutions Ltd., regulated by the Bermuda Monetary Authority.
xStocks are tokenized securities issued by Backed Assets (JE) Limited (“BAJL”) pursuant to an EU-registered prospectus, providing price exposure only, with no voting or dividend rights. xStocks are not registered under the US Securities Act and are not available in the United States or to US persons. xStocks are also not currently available in the United Kingdom, Canada, Australia, or in any other jurisdiction where their offer or distribution would be unlawful or would require regulatory authorisation that has not been obtained. In the EEA, xStocks are provided by Payward Europe Digital Solutions (CY) Limited (“PEDSL”), regulated by the Cyprus Securities and Exchange Commission (CySEC), licence no 342/17. PEDSL does not provide investment advice. Trading xStocks involves significant risks and is not appropriate for all investors. The value of your investment may go down or up. Read the Offering Documentation and Risk Disclosure for xStocks available on eu.kraken.com. Outside the EEA, xStocks are made available by Payward Digital Solutions Ltd. (“PDSL”), licensed to conduct digital asset business by the Bermuda Monetary Authority (“BMA”). Ōura’s post-listing free float is expected to be approximately 15%. A thin float combined with high investor demand may result in heightened price volatility following listing. IPO participation involves a high degree of risk. Allocation is subject to underwriter decisions; allocation is not guaranteed and excess funds will be returned. The value of IPO xStocks may go down as well as up after listing. Past performance is not a reliable indicator of future results. Geographic restrictions apply.
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