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Kraken xStocks adds 200 UK and EU equities

Payward added more than 200 UK and EU-listed equities to xStocks, taking its range past 1,500 assets and assets under management above $1.1 billion.

Merkle Street Newsroom#836fb63 min read

Kraken xStocks adds 200 UK and EU equities

Payward, Kraken’s parent, added more than 200 UK- and EU-listed equities to xStocks on Nov. 11, expanding its tokenized share range beyond US listings as assets under management topped $1.1 billion. The process starts with a traditional share: Payward’s partner GTN handles its execution and custody, then a corresponding token is issued on blockchain rails. Payward said in its announcement of the expansion that each token is backed one-to-one by the underlying share.

How does a listed share become an xStock?

GTN provides the brokerage and custody infrastructure for the traditional asset. When an xStock is issued, the matching share is purchased and held with a regulated custodian for as long as the token remains in circulation, according to Payward. The token can then be traded through Kraken and supporting xStocks Alliance platforms, and on networks where xStocks are available, including Solana, Ethereum, TON, Ink and X Layer.

That is a digital claim tied to a share held elsewhere, rather than the share itself moving onto a blockchain. CoinDesk’s report on the launch describes xStocks as giving holders exposure to share prices without ownership of the underlying companies. The tokens do not give holders the same ownership rights as directly holding shares.

What did this expansion add?

The first wave covers more than 200 of the most actively traded companies listed in the UK and European Union. It includes all 40 constituents of Germany’s DAX index, CoinDesk reported. Payward said the additions take xStocks beyond 1,500 tokenized assets across stocks, exchange-traded funds and IPOs. It also reported more than $45 billion in total transaction volume and over 550,000 unique holders worldwide.

Payward says the share backing connects onchain demand to the underlying public market: each token issued is matched by a share purchase, which feeds orders into the listed companies’ markets. That link depends on the brokerage and custody process behind issuance. The blockchain provides the rails for the token; it does not replace the exchange where the underlying share trades.

Can UK investors trade the new tokens?

No. Although the newly represented companies include UK-listed firms, Payward says xStocks remain unavailable to investors in the United Kingdom; distribution and eligibility have not changed with this expansion. Access depends on the markets where the product is offered and a customer’s eligibility.

Payward said hundreds of Hong Kong-listed equities are expected to follow in the coming weeks. For now, the UK and EU additions broaden the assets represented in xStocks, while the actual shares remain in traditional custody and UK residents remain excluded from trading the tokens.

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