Payward, the parent company of crypto exchange Kraken, is teaming up with fintech firm GTN to offer xStocks — blockchain-based copies of real company shares. The service will be available in Hong Kong, the UK, Europe, and South Korea, the companies said this week.
What xStocks are
XStocks are tokenized versions of traditional equities. Each token represents a share in a publicly traded company, letting users trade them on Kraken's platform without leaving the crypto ecosystem. The move puts Kraken in the same lane as other exchanges that have experimented with tokenized stocks, though the partnership with GTN gives it a specific infrastructure partner for settlement and compliance.
Why those four markets
Hong Kong has been positioning itself as a hub for digital asset innovation, while the UK and Europe have relatively clear regulatory frameworks for tokenized securities. South Korea is a major crypto trading market with high retail demand. The selection suggests Kraken is targeting jurisdictions where the legal path for tokenized stocks is already paved, rather than waiting for global clarity.
Neither Payward nor GTN has announced a launch date. The companies said they will roll out the service in phases, starting with the four listed regions. It's not yet clear which specific stocks will be available as xStocks, or whether the service will eventually expand to other countries.
