Payward Tokenizes 200-Plus UK and EU Stocks Through xStocks

By Marcus Bennett

More than 200 UK and EU-listed stocks are now tokenized through Payward's xStocks platform. Payward announced the expansion on Wednesday. It is the Kraken parent's largest expansion beyond U.S. equities.

The announcement came in a Nov. 11, 2026 Payward post. It called the release “The first international launch, with more markets to follow.” The first batch covers some of the most actively traded and largest companies listed in the UK and EU, including HSBC, Shell, LVMH and Airbus. More stocks will be added on a rolling basis.

How does the stock backing work?

Every xStock is backed 1:1 by the underlying share, Payward said. A regulated custodian buys and holds that share for as long as the token trades. GTN, Payward's brokerage infrastructure partner, handles execution and custody of the shares.

The structure separates the equity exposure from the blockchain trading rail, while the shares remain under regulated custody and the brokerage partner retains execution. Tokens are available on Kraken and other platforms in the xStocks Alliance. They also trade on Solana, Ethereum and TON, where xStocks already operate.

Mark Greenberg, Payward's chief commercial officer, said: “A portfolio should not have borders or trading hours.” He added: “Tokenizing every other international market is the next step.”

What does this change for investors?

The tokens are offered in more than 110 markets. That widens xStocks' reach beyond U.S. equities. UK investors remain excluded. The 1:1 backing and regulated custody model does not change.

Payward said xStocks now exceeds 1,500 tokenized stocks, ETFs and IPOs. The platform holds more than $1.1 billion in assets, has processed over $45 billion in total transaction volume and counts more than 550,000 holders. These figures cover the platform, not just the new international range.

What comes next?

Hundreds of Hong Kong-listed stocks will follow in coming weeks. Payward and GTN announced their partnership in July. Hong Kong-listed stocks were the planned starting point then. The next batch will use the same execution and custody arrangement.

Payward also announced an LSE partnership in September. It agreed to tokenize the 100 largest London-listed companies. Subject to regulatory approval, the exchange intends to list xStocks and begin trading them on LSE 24, its planned near-24-hour trading venue, in 2027.

That schedule remains conditional. Approval and a listing are required before trading begins.

Why do exchange ties matter?

Traditional venues have put capital behind Payward's expansion. Nasdaq agreed to invest $100 million at a $21 billion valuation in September. That commitment followed a March partnership to bring tokenized stocks to market in 2027. Deutsche Börse bought a $200 million stake in April.

Payward has also agreed to buy adjacent market infrastructure. It agreed to acquire derivatives exchange Bitnomial for $550 million. It also agreed to acquire Lithuania's Saldo Bank as part of an EU expansion push. Those acquisitions would broaden the group's exposure beyond tokenized equities. Combined with GTN's role and backing from Nasdaq and Deutsche Börse, Payward is linking token issuance with more of the market structure around it.

The next checkpoint comes within weeks as Hong Kong listings begin rolling out. The larger market-structure test follows in 2027, when regulatory approval and an LSE 24 listing would determine whether Payward's London agreement becomes a live trading venue.