LSEG and Kraken Plan Tokenized Trading for 100 UK Stocks on LSE 24

Payward, Kraken’s parent company, said on September 1 that it plans to tokenize the 100 largest London-listed equities as 1:1-backed xStocks, with initial availability expected in the coming weeks on Kraken and other xStocks Alliance platforms.

The proposed LSE 24 venue belongs to a later phase. The London Stock Exchange Group said the London Stock Exchange intends to list and support trading in xStocks there in 2027, subject to regulatory approval.

For now, the rollout is presented as a near-term route for tokenized versions of major UK-listed shares outside the UK. Payward said the products are intended for investors in more than 110 countries, though they are not currently available to UK-based investors.

Payward Targets the 100 Largest London-Listed Stocks

Under the announced plan, the tokens will be backed 1:1 and issued under the xStocks brand. Payward said the first products are expected to become available through Kraken and other platforms in the xStocks Alliance in the coming weeks.

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