Kraken parent adds over 200 tokenized UK and EU stocks to xStocks

Kraken parent Payward’s xStocks platform added tokenized versions of more than 200 stocks listed in the United Kingdom and European Union.

Payward said Wednesday that eligible users can trade the new tokens on Kraken and participating xStocks Alliance platforms. The tokens remain unavailable to investors in the UK.

The expansion includes tokenized shares of all 40 companies in Germany’s benchmark DAX index, including SAP, Siemens, Allianz and Deutsche Telekom. According to a separate Wednesday announcement from Deutsche Börse, the tokens are available for trading on its affiliated 360X platform, with 24/7 trading supported on select venues.

Payward said the latest expansion brings xStocks’ offering to more than 1,500 tokenized assets. The company reported more than $45 billion in cumulative transaction volume and over 550,000 unique holders.

According to Payward, the new tokens are backed one-to-one by shares held with a regulated custodian. Kraken’s risk disclosure says xStocks tokens give holders exposure to the shares’ performance without voting rights or legal claims to the underlying stock.

Token Terminal data put xStocks’ market capitalization at $1.1 billion, about 22% of the $4.9 billion in tokenized stocks the firm tracks. xStocks ranked third, behind Binance bStocks at $1.5 billion and Ondo Finance at $1.4 billion.

Payward said it plans to add hundreds of Hong Kong-listed equities in the coming weeks.