Payward teams with GTN to launch blockchain-based xStocks backed by equities from Hong Kong, Europe, and South Korea.
Payward, parent company of crypto exchange Kraken, announced a partnership with fintech GTN to expand its tokenized stock product, xStocks, beyond U.S. equities. The move targets equities from Hong Kong, the U.K., Europe, and South Korea, with GTN providing execution, custody, and record-keeping for the underlying assets.
Currently, xStocks are limited to U.S. equities and available only to non-U.S. investors. Each token is backed one-to-one by a real share held in regulated custody. The expansion aims to capitalize on growing demand for tokenized assets, competing with offerings from Robinhood Chain, Coinbase, and Nasdaq.
Institutional distribution hinges on regulatory approval in each market. GTN’s infrastructure supports rapid deployment across 90+ markets, including sub-accounting technology for tokenized products.