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Payward expands Kraken xStocks tokenized stocks to Hong Kong, UK, South Korea
The xStocks platform, built by Payward and developed with GTN, will add Hong Kong-listed shares first, with U.K. and South Korean equities following pending regulatory approvals.
CoinDesk reports that Payward, the parent of crypto exchange Kraken, is expanding its xStocks tokenized stock platform beyond U.S. listings to include shares from Hong Kong, the U.K., and South Korea.
Payward said it is working with investment infrastructure provider GTN to bring Hong Kong-listed stocks onto the platform, while U.K. and European equities and South Korean equities are expected to follow, subject to regulatory approvals.
The company also said the partnership is intended to lay groundwork for expanding xStocks beyond equities into other tokenized asset classes.
The move comes as tokenized equities competition intensifies, with CoinDesk noting that Robinhood has expanded tokenized stocks beyond Europe, and Coinbase has been planning stock tokens, while DTCC has begun testing tokenized securities infrastructure and Nasdaq and the NYSE have also started tokenization initiatives.
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