Payward, Kraken’s parent, added over 200 UK and EU equities—including all FTSE 100 and DAX 40 constituents—to its xStocks platform, expanding tokenized assets to more than 1,500.
Payward, the parent company of cryptocurrency exchange Kraken, announced on 11 November 2026 that it has tokenized more than 200 equities listed in the United Kingdom and the European Union. The assets, offered through Payward’s xStocks platform, include every company in the FTSE 100 and Germany’s DAX 40 indexes, such as Siemens, Shell, LVMH and SAP. The launch marks the first time the platform has moved beyond its original focus on U.S.‑listed securities, bringing the total number of tokenized stocks, ETFs and IPO‑related products to over 1,500.
Update, Nov 11, 16:19 UTC: Cryptopolitan reported that the overall tokenized‑stock market cap is now about $4.887 billion, with Binance bStocks at $1.512 billion, Ondo Finance at $1.398 billion and xStocks at $1.107 billion, representing roughly 22 % of the market. The report also noted that Binance bStocks overtook Ondo Finance as the largest issuer in October 2026.
Update, Nov 11, 11:46 UTC: Cointelegraph reported that Payward’s xStocks platform has processed over $45 billion in cumulative transaction volume and serves more than 550,000 unique holders. Token Terminal data show the tokenized stock market’s total capitalization at about $1.1 billion, placing xStocks third behind Binance bStocks and Ondo Finance. Deutsche Börse confirmed that the new tokens can be traded 24/7 on its 360X platform.
Each token is issued by Backed Assets (JE) Limited, a Jersey‑based entity, and is backed one‑to‑one by an underlying share held by a regulated custodian. The tokens are classified as tracker certificates, giving holders economic exposure to price movements, dividends and corporate actions, but not direct voting rights. Payward’s partnership with GTN provides the execution and custody infrastructure that links on‑chain token trades to the corresponding traditional securities.
The European listings can be traded on Kraken and other platforms that belong to the xStocks Alliance, covering more than 110 markets worldwide. In addition to centralized exchange access, the tokens are compatible with multiple blockchain networks, including Solana, Ethereum, TON, Ink and X Layer, allowing movement between compatible wallets and DeFi applications. German DAX tokens are also available on Deutsche Börse‑backed 360X, which operates under the EU’s DLT Pilot Regime.
Although the offering includes all FTSE 100 constituents, UK residents are excluded from purchasing the tokens under current distribution rules. The same restriction applies to U.S. investors. Payward has previously announced a partnership with the London Stock Exchange to explore tokenised trading on the LSE 24 venue in 2027, pending regulatory approval.
Payward said it will extend the tokenisation model to hundreds of Hong Kong‑listed companies in the coming weeks, using the same GTN partnership. The company also hinted at future listings on the LSE 24 exchange, which could bring British equities to on‑chain trading once regulators sign off. Observers will be monitoring how the expanded European product suite competes with other tokenised equity platforms such as Binance’s bStocks, Ondo Finance and Robinhood.
Eligible investors in jurisdictions where the tokens are approved, such as many non‑UK and non‑US markets, can trade them on Kraken or other xStocks Alliance platforms.
No. Holders receive economic exposure but do not have direct voting rights; dividends are distributed via a token adjustment mechanism.
Access for UK residents depends on future regulatory approval; Payward aims to launch trading on the LSE 24 venue in 2027 if cleared.
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