GTN and Payward, the parent company of crypto exchange Kraken, have teamed up to take the xStocks tokenized equities platform worldwide. The partnership will start by tokenizing Hong Kong stocks, then move into the UK, Europe, South Korea, and other markets. The deal also opens the door for xStocks to eventually handle other tokenized asset classes beyond equities.
What xStocks already offers
XStocks currently lists more than 500 tokenized assets, including equities, ETFs, and IPOs. The platform has processed over $35 billion in transaction volume and counts more than 200,000 holders. GTN provides the global execution and custody for the traditional assets that back xStocks, along with the infrastructure for ledgering and record-keeping.
How the partnership works
Under the agreement, GTN will make xStocks available to its institutional clients once it obtains the necessary licenses. The partnership is already live, but tokenized distribution to those clients is pending regulatory approvals. Mark Greenberg of Payward said the goal is to make geography irrelevant to investing by bringing global capital markets onchain. Ankit Shah of GTN noted that GTN's infrastructure lets partners launch across 90+ markets without rebuilding their technology.
The immediate next step is securing the required licenses so GTN can offer xStocks to its institutional clients. Until then, the tokenized distribution remains on hold. The partnership's expansion into additional markets and asset classes will depend on those approvals and on demand from institutional investors.
