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Kraken parent Payward plans xStocks expansion to global equity markets
The tokenized-stock offering starts with Hong Kong-listed equities and expands to the U.K., Europe, and South Korea, pending local regulatory approvals.
Payward, the parent company of crypto exchange Kraken, is partnering with fintech GTN to expand xStocks beyond the United States into tokenized equities from Hong Kong, the U.K., Europe, and South Korea, according to Decrypt.
The infrastructure deal gives GTN responsibility for execution, custody, and record-keeping for the underlying assets that back each xStocks token, with institutional distribution scheduled to begin once required licenses are in place in each jurisdiction.
xStocks are blockchain-based tokens designed to be backed one-to-one by real company shares held in regulated custody, and the product is not available for U.S. residents. The rollout begins with Hong Kong-listed equities before expanding to the U.K., European, and South Korean markets.
Decrypt also reported that xStocks launched in June 2025 with a catalog limited to U.S. stocks and ETFs, and has grown to more than 500 tokenized assets with over $35 billion in transaction volume. Payward and GTN said the effort is meant to reduce friction from fragmented capital markets by moving quickly across markets and instruments without rebuilding technology.