Payward, the company behind the Kraken exchange infrastructure, said in an official statement that it has issued xStocks tokens for more than 200 actively traded UK- and EU-listed stocks. According to the company, each token is backed 1:1 by the underlying share and can be traded on Kraken and other venues from day one.
Payward described the move as the largest expansion of xStocks so far and the first to go beyond US-listed stocks. It brings the framework to more than 1,500 assets in total, according to the statement.
How the tokens are backed
The UK and EU expansion is carried out with GTN, a fintech firm that handles global execution and custody of the underlying shares. Payward said each token issued is matched by a purchase of the underlying stock, which a regulated custodian holds while the token trades.
Mark Greenberg, Payward’s Chief Commercial Officer, said the aim is a single global market where anyone can hold any listed company regardless of residence, currency or local broker.
Where xStocks stands
xStocks launched in June 2025 with US stocks and ETFs. According to Payward’s statement, it now has more than $1.1 billion in assets under management, more than $45 billion in cumulative trading volume and more than 550,000 holders worldwide. These figures come from the company and were not independently verified.
What comes next, and what is still unclear
Japanese outlet CoinPost, citing the statement, reported that tokenization of several hundred Hong Kong-listed stocks is to follow within weeks. It also reported that the London Stock Exchange intends to list xStocks tokens in 2027, subject to regulatory approval.
CoinPost also reported that availability terms are unchanged: UK investors still cannot use xStocks, and the statement does not mention availability in Japan.
Several points remain unknown. The exact list of tokenized UK and EU stocks has not been detailed in the source, nor have the regulatory status of the tokens in the UK and EU or the jurisdictions that can access the new tokens. It is also unclear whether the terms of the London Stock Exchange partnership are public beyond this report.
Sources
- coinpost.jp CoinPost — xStocks、英国・EU上場株200社超をトークン化 Accessed
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