Kraken parent Payward partners with fintech GTN to expand xStocks (tokenized equities) into Hong Kong, UK, Europe, and South Korea.
RWA & Tokenization ·
Payward, the parent company of crypto exchange Kraken, has partnered with fintech firm GTN to expand xStocks—blockchain-based tokens representing real company shares—into markets outside the United States. The partnership will bring tokenized equities from Hong Kong, the UK, Europe, and South Korea to institutional investors, with regulatory approvals required in each jurisdiction before distribution begins.
xStocks currently offer only U.S. equities and have processed over $35 billion in transaction volume since launching in June 2025, growing to more than 500 tokenized assets. Under the deal, GTN will provide trade execution, custody, and record-keeping infrastructure, while Payward leverages its xStocks framework to tokenize international securities. The move positions xStocks against competitors including Robinhood's tokenized equities blockchain and Coinbase's planned offering, both currently focused on U.S. stocks.
The infrastructure is live, though institutional distribution remains contingent on obtaining required licenses in each market. GTN's stated access to 90+ markets suggests potential for expansion well beyond the initial four regions, though specific timelines for launching non-equity asset classes remain undisclosed.