Crypto exchange Kraken is giving customers access to SpaceX’s upcoming initial public offering through xStocks, a tokenized equity platform, highlighting the growing convergence between crypto infrastructure and classic capital markets.

Kraken announced On Friday, SpaceX will be an initial public offering available through xStocks IPO Access, which will allow eligible users to participate in the offering through tokenized equity instruments.

To participate, users must have a verified Kraken account on the Kraken mobile app and apply for IPO access. The offer is not available through Kraken Pro or the company’s desktop platform.

According to Kraken, access to the IPO is available throughout the European Economic Area (EEA) and in more than 110 international markets, although participation is constrained in the United States, Canada, Australia and the United Kingdom due to regulatory restrictions.

Source: Kraken

Authorized users can register their interest in purchasing SpaceX shares before the company enters public trading. Investors who receive the allocation will receive SPCXx, a tokenized representation of SpaceX’s equity backed 1:1 by the underlying shares. Tokens can be traded 24/7 on Kraken and other participating xStocks platforms.

Related: Kraken xStocks share value exceeds $25 billion and has over 80,000 shares. onchain holders

SpaceX is targeting a valuation of $1.8 trillion, which will be a record debut

SpaceX is expected to begin trading on the stock exchange on June 12, giving investors their first chance to own shares of Elon Musk’s rocket and satellite company.

According to Bloombergdemand for the offering has already exceeded the number of shares available, and SpaceX is seeking to raise about $75 billion at a valuation of at least $1.8 trillion. If that happens, the company’s listing would be the largest public offering in history, surpassing Saudi Aramco’s $29.4 billion deal in 2019, Bloomberg says.

The company’s growth story is largely tied to Starlink, its satellite Internet business, which has become a major source of revenue and profitability.

However, SpaceX’s capital-intensive rocket launch and space exploration operations continue to incur high costs, raising questions about how investors will value the company once it launches on the public market.

Source: Lance Roberts

Related: SpaceX reveals larger-than-expected Bitcoin holdings deposited in IPO