Kraken parent Payward brings over 200 UK and European stocks to crypto trading

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Kraken parent Payward has launched more than 200 tokenized stocks from the UK and European Union, including companies in the FTSE 100 and Germany’s DAX 40, allowing eligible investors to trade blockchain-based versions of major European equities.

Summary

Kraken parent Payward has launched more than 200 tokenized stocks from the UK and European Union.
The expansion covers FTSE 100 and DAX 40 companies, including Siemens, Shell, LVMH and SAP.
Germany’s DAX 40 tokens are available through Deutsche Börse-backed 360X alongside supported xStocks trading venues.
xStocks now exceeds 1,500 assets and $1.1 billion under management, with more than 550,000 holders.
UK and US investors remain excluded, while Payward plans Hong Kong listings and future LSE trading.

In a November 11 announcement, Payward confirmed that the new assets were available through Kraken and supporting xStocks Alliance platforms. The rollout includes companies such as Siemens, Shell, LVMH and SAP, with each token backed by a corresponding share held in custody.

The expansion takes xStocks beyond 1,500 assets, with more than $1.1 billion in assets under management, over $45 billion in cumulative transaction volume and more than 550,000 holders worldwide.

You might also like: Binance bStocks leads tokenized stocks with $1.4B in value

Payward brings FTSE 100 and DAX 40 stocks onto blockchain

The initial release covers more than 200 companies listed in the UK and Europe, including all constituents of the FTSE 100 and DAX 40.

Among the German companies available are SAP, Siemens, Allianz and Deutsche Telekom, whose tokenized products include SAPx, SIEx, ALV.DEx and DTE.DEx.

Payward said the assets would trade through supported centralized exchanges and blockchain networks, including Solana, Ethereum, TON, Ink and X Layer.

The tokens can move between compatible wallets and decentralized finance applications, while trading hours depend on the venue. Kraken’s European Economic Area offering operates 24 hours a day, five days a week, although supported onchain venues can provide round-the-clock trading.

Mark Greenberg, Payward’s chief commercial officer, said the company intends to make more international equities available through the same infrastructure.

“A portfolio should not have borders or trading hours,” Greenberg said. “Tokenizing every other international market is the next step.”

The new listings are supported by Payward’s partnership with GTN, which provides execution and custody infrastructure for the underlying traditional shares.

As crypto.news previously reported, the companies announced their partnership in July to expand tokenized equities beyond US markets.

DAX 40 tokens begin trading on Deutsche Börse’s 360X

The German expansion includes trading through 360X, a digital asset venue backed by Deutsche Börse Group.

In a separate announcement, Payward confirmed that tokenized versions of all 40 DAX constituents were available on the platform, alongside a tokenized version of Xetra-Gold, an exchange-traded commodity linked to gold.

https://x.com/Payward/status/2120442671810379874

The companies have worked together since December 2025, while 360X has supported xStocks trading under the European Union’s DLT Pilot Regime since February 2026.

Carlo Koelzer, Deutsche Börse Group’s head of digital assets and foreign exchange, said the partnership would support trading across traditional and blockchain-based financial markets.

The UK expansion follows a September agreement between Payward and the London Stock Exchange to tokenize the 100 largest London-listed companies.

Under those plans, the exchange intends to introduce xStocks trading through its LSE 24 venue in 2027, subject to regulatory approval.

Despite covering British equities, the products remain unavailable to investors in the United Kingdom. US investors are similarly excluded under existing distribution restrictions.

How xStocks are backed by traditional shares

Each xStock is backed one-to-one by a corresponding security held through regulated custody arrangements.

The tokens are issued by Backed Assets (JE) Limited, a Jersey-based company whose legal documentation classifies them as tracker certificates.

Investors receive economic exposure to the performance of the underlying shares, but they do not directly own those shares or receive conventional shareholder rights.

The issuer’s documentation states that holders do not receive direct voting rights. Economic benefits associated with dividends are handled through the product’s token adjustment mechanism.

GTN handles the execution and custody of the traditional securities supporting the latest UK and European listings.

Payward said each newly issued token corresponds to a purchase of the underlying share, which remains with a regulated custodian while the token circulates.

CN reached out to Payward for comments on the launch but had not received a response by press time.

Payward plans Hong Kong stocks as tokenized equity market grows

Following the European rollout, Payward plans to tokenize hundreds of companies listed in Hong Kong over the coming weeks.

The company said additional international markets would follow as its partnership with GTN develops.

The expansion comes as competing platforms, including Ondo Finance and Robinhood, continue developing blockchain-based products linked to traditional equities.

An August market comparison found that Ondo led five major tokenized equity platforms by asset value, while Robinhood had the largest number of holders.

More recently, Binance’s bStocks platform reached approximately $1.4 billion in tokenized stock value in early November, according to RWA.xyz data.

Payward’s latest figures cover more than 1,500 tokenized stocks, ETFs and IPO-related products, compared with the US-focused equities available when xStocks launched in June 2025.

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