Payward, Kraken’s parent company, to launch tokenized versions of more than 200 UK and European stocks
According to a Wall Street Journal report and an official Payward announcement, Payward, the parent company of Kraken, is bringing tokenized versions of UK- and Europe-listed stocks to market through its xStocks framework. Related products include components of the UK FTSE 100 and Germany’s DAX 40, among others, for a total of more than 200 stocks.
The tokens are 1:1 collateralized representations of the underlying shares and can be traded on Kraken and other supported platforms, with some supporting 24/7 or extended-hours trading. Payward previously partnered with the London Stock Exchange and plans to list up to 100 London-listed companies as xStocks for trading on the platform, with LSE-side trading possibly starting in 2027 subject to regulatory approval.
xStocks is currently not open to investors in certain jurisdictions, including the United States and the United Kingdom. Token holders generally do not enjoy full shareholder voting rights or direct dividend rights, and economic exposure is achieved through the underlying custodied shares.
Original source:
Title: xStocks Broadens Suite of Tokenized Assets, Bringing Hundreds of UK and EU-Listed Equities Onchain Publisher: Payward Date: 2026-11-11 URL: https://www.payward.com/press-release/xstocks-uk-eu-equities Source type: company official press release Verification status: the title of the page visited this time and the related DAX 40 announcement; consistent with the WSJ-cited report and the earlier LSE partnership announcement Supporting content: supports tokenizing hundreds of UK and EU-listed stocks onchain through xStocks
ABAB AI Insight
This move extends Payward/Kraken’s expansion in tokenized equity products from U.S. stocks to UK and European blue chips. The product provides price exposure in the form of 1:1 collateralized tracking tokens rather than traditional share registration, so it differs from full shares in terms of rights, regulation, and availability.
Geographic restrictions are significant: UK local investors are currently unable to buy xStocks, and U.S. investors are also restricted. The actual availability range, trading hours, and specific list are subject to the platform’s real-time disclosures. In the partnership with the LSE, exchange-side listing and trading still await regulatory approval.
Overall, this is a development in tokenized equity infrastructure driven by institutions and exchanges, rather than an immediate change to existing stock ownership structures.
ABAB News · Cognitive Law
Tokenized equity products are mostly 1:1 collateralized representative products and do not equal direct share ownership.
Geographic and regulatory restrictions determine the actual tradable scope.
The “planned listing” in partnership announcements must be distinguished from completed transactions.