Kraken’s parent company Payward has added more than 200 tokenized stocks listed in the UK and Europe to its xStocks platform, giving eligible investors 24/5 access to shares from SAP and Siemens to HSBC and LVMH – and pushing the platform past $1.1 billion in total assets. The November 11 expansion puts every constituent of Germany’s DAX and the FTSE 100 within reach of crypto-wallet holders in more than 110 markets.
The timing is not accidental. xStocks crossed $1.5 billion in tokenized assets and $45 billion in cumulative transaction volume as institutional demand for tokenized equities accelerates, with the London Stock Exchange separately planning to list xStocks on its LSE 24 venue in 2027, pending regulatory approval.
What’s new in the Kraken xStocks expansion
All 40 DAX constituents – including SAP, Siemens, Allianz and Deutsche Telekom – joined alongside the full FTSE 100 roster of HSBC, Shell, LVMH, Airbus and peers, taking the platform’s tokenized universe past 1,500 assets with over 550,000 unique holders.
Each token is backed 1:1 by the corresponding share held with a regulated custodian. The trade-off is in the fine print: Kraken’s risk disclosure states holders get price exposure to the shares but no voting rights and no legal claim on the underlying stock. It is economic ownership without the shareholder meeting – a compromise regulators in both London and Brussels are still arguing about.
Where and how the tokenized UK and EU stocks trade
The new tokens are available on Kraken and Kraken Pro, across participating xStocks Alliance platforms, and onchain on Solana, Ethereum, TON, Ink and X Layer. In the European Economic Area they trade 24/5, Monday to Friday, matching cash-market hours.
One catch for readers outside the alliance: xStocks are not available in the United States, United Kingdom, Canada or Australia at launch – so the UK-listed shares are, ironically, invisible to UK retail users through this channel. Payward says hundreds of Hong Kong-listed equities are slated to arrive in coming weeks.
Why tokenized equities keep scaling
The expansion lands amid the SEC’s innovation exemption for tokenized securities venues, which requires tokens to confer the same rights and privileges as traditional shares of an equivalent class – a rule set that pushes the industry toward the very parity debate xStocks’ no-voting structure sits inside.
For the tokenization thesis, the numbers are the argument: from $827 million in Ethereum-based tokenized stocks earlier this year to a $1.1 billion single-platform total spanning three continents of listings, the RWA wave is no longer knocking at the door. It has a trading pair.
