Kraken's xStocks Adds Over 200 UK and EU Tokenized Equities
Payward, Kraken's parent company, launched more than 200 tokenized UK and European stocks on November 11, including all FTSE 100 and DAX 40 constituents. The rollout takes xStocks past 1,500 assets and lifts its reported assets under management above $1.1 billion, though the products remain unavailable to UK and US investors.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
What Launched
Payward said on November 11 that more than 200 tokenized equities from the UK and European Union are now available through Kraken and the xStocks Alliance platforms. The batch includes every constituent of the FTSE 100 and DAX 40, with names such as Siemens, Shell, LVMH, SAP, Allianz and Deutsche Telekom. Each token is backed one-to-one by a corresponding share held in custody, according to the company.
The launch extends xStocks beyond its US equity offering. Payward reports the platform now lists more than 1,500 assets, with over 550,000 holders and more than $45 billion in cumulative transaction volume. Coverage of the scale differs slightly: Crypto.news reports the assets under management at more than $1.1 billion, and CoinDesk cites the same figure, so the two outlets agree on that number.
Trading Venues and Hours
The tokens trade on supported centralized exchanges and on several blockchains, including Solana, Ethereum, TON, Ink and X Layer. They can move between compatible wallets and decentralized finance applications. Trading hours depend on the venue: Kraken's European Economic Area offering runs 24 hours a day, five days a week, while onchain venues can operate around the clock.
The German listings also trade through 360X, a digital asset venue backed by Deutsche Borse Group, which has supported xStocks trading under the EU's DLT Pilot Regime since February 2026. A separate Payward announcement said tokenized versions of all 40 DAX constituents are available, along with a tokenized Xetra-Gold product linked to gold.
Distribution and Regulatory Structure
The products are not available to investors in the United Kingdom or the United States, despite the UK focus of the expansion. A Payward spokesperson told Crypto.news the company is working to extend access to the UK, Hong Kong and other markets, but declined to give a timeline.
The tokens are issued by Backed Assets (JE) Limited, a Jersey-based entity. Crypto.news reports that its legal documentation classifies the tokens as securities, while CoinDesk notes that each token gives no ownership of the underlying company. Execution and custody of the underlying shares run through GTN, Payward's partner on the rollout. The companies have worked together since December 2025.
Wider Plans
Payward's chief commercial officer, Mark Greenberg, said the company intends to tokenize more international markets on the same infrastructure. The UK component builds on a September agreement with the London Stock Exchange to tokenize the 100 largest London-listed companies, with xStocks trading planned on the LSE 24 venue in 2027, subject to regulatory approval.
Why It Matters
For Traders
Tokenized FTSE and DAX shares now trade around the clock on some venues, but liquidity and pricing may differ from the underlying exchanges during European market closures.
For Investors
The expansion signals that tokenized equity distribution is moving beyond US names, though the securities classification and lack of share ownership leave the regulatory picture unsettled.
For Builders
Developers can now integrate tokenized European equities across Solana, Ethereum, TON, Ink and X Layer, but must account for issuer-level custody and transfer restrictions.
This article is for information only and is not financial advice. Read the full disclaimer.
