Kraken parent company Payward will offer retail investors IPO shares at offering prices via blockchain-backed tokenized equities.
Payward, owner of crypto exchange Kraken, will enable retail investors to purchase U.S.-listed IPO shares at the same offering price as institutions through tokenized equities. The xStocks framework will aggregate allocations across platforms, with shares backed one-for-one by regulated custodians.
The initiative aims to democratize access to IPOs, traditionally dominated by institutional investors. Retail participants will receive allocations at the IPO price rather than buying post-listing. The first tokenized IPOs are expected in the coming weeks amid anticipation for high-profile debuts like SpaceX.
Payward’s move leverages blockchain technology to broaden capital market participation. The xStocks Alliance will include Kraken and other partner platforms, though specific IPOs and timelines remain unannounced.