Payward, parent of Kraken, will tokenize the 100 largest London Stock Exchange-listed companies as 1:1-backed xStocks, initially tradable on Kraken and other Alliance platforms for investors in over 110 countries, excluding the UK. Subject to regulatory approval, the London Stock Exchange plans to support xStocks trading on its new LSE 24 extended-hours venue. The partners will also study issuing native equity tokens via LSE infrastructure with rights identical to traditional shares. The initiative expands Payward’s tokenized equities framework, which has already processed over $40 billion in volume. It could broaden global access to UK and international equities, potentially influencing how public markets adopt onchain settlement technologies.
This update represents a notable development in the Crypto sector. Organizations and founders tracking this space should evaluate potential strategic and technical implications on their operations.