Payward Adds 200 UK and European Stocks to xStocks

Payward, the parent company of the Kraken exchange, added more than 200 UK and European companies to its xStocks tokenized equity service on November 11, according to its press release. More listings are planned on a rolling basis.

Details

With the expansion, xStocks now offers over 1,500 tokenized assets, including stocks, ETFs and IPOs, Payward says. Assets under management stand at $1.1 billion, cumulative transaction volume at $45 billion, and unique holders at more than 550,000. The Block reports that each token is backed 1:1 by shares, and that Hong Kong listings are expected next, followed by South Korea and other markets.

Infrastructure partner GTN handles execution and custody of the underlying securities, while Kraken provides trading. The release also names the London Stock Exchange as a partner in Payward's tokenization push.

What this means for the market

Tokenized equities remain one of the fastest-growing areas where crypto meets traditional finance, and exchanges are racing to launch similar products. Adding UK and European names widens the pool of assets that can be traded around the clock, though availability still depends on the user's jurisdiction.

This is not investment advice. For the current market picture, see the daily brief.