Kraken parent firm Payward has confirmed that it is expanding its xStocks platform with more than 200 UK and EU-listed companies, taking its tokenized stock offering beyond U.S. markets. The move comes as the platform crosses $1.1 billion in assets under management.
But how much further does Payward plan to expand its reach in global stock markets?
Payward Takes xStocks Beyond U.S. Stocks
In a press release, Payward announced that it adds more than 200 UK and European stocks to its xStocks platform. The move gives investors access to companies listed outside the U.S. through blockchain-based tokens.
It is the first major expansion under Payward Services’ tokenization partnership with GTN, which provides the brokerage and custody infrastructure supporting the underlying assets.
Each xStock is backed 1:1 by one actual share of a company. The tokens can be traded through Kraken and supporting xStocks Alliance platforms.
The new tokens will also be available on the same blockchain networks as existing xStocks, including Solana, Ethereum, TON, Ink and X Layer. This means investors can access them through existing crypto markets and DeFi platforms without needing a separate system.
Now Buy UK and EU Stocks Without a Local Broker?
Payward says the expansion could make it easier for people around the world to access UK and European stocks. When a new xStock token is issued, the company buys the matching share and places it with a regulated custodian. So, each token is backed by an actual share, not just its price.
Mark Greenberg, Payward’s chief commercial officer, said,
“Access to capital markets is still drawn on a map, and it still depends on holding the right passport.”
He said Payward wants to make it easier for investors to own shares in listed companies, regardless of their location, currency or local broker.
Payward is also working with the London Stock Exchange on stock tokenization. If regulators approve the plan, the LSE expects to list xStocks and start trading them on LSE 24 in 2027.
Hundreds of Hong Kong Stocks Could Be Next
Payward is not stopping with UK and European stocks. The company also expects to add hundreds of Hong Kong-listed stocks to xStocks in the coming weeks, further expanding the range of shares investors can access through tokens.
Since launching more than a year ago with tokenized U.S. stocks and ETFs, xStocks has grown to more than 1,500 assets.
The platform now has over $1.1 billion in assets under management, more than $45 billion in total trading volume, and over 550,000 unique holders worldwide.
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