Kraken Parent Payward Partners with GTN to Tokenize Global Equities
Summary
Payward, Kraken's parent, is teaming up with fintech infrastructure provider GTN to take its xStocks tokenized equity platform global. The rollout starts with Hong Kong equities and will expand to the UK, Europe, South Korea, and beyond, with GTN handling execution, custody, and record-keeping across over 90 markets. This moves xStocks beyond its current US-only focus and taps into the $1.94 billion tokenized equity market, where xStocks already holds $515 million in assets as the second-largest provider. The partnership follows a string of aggressive moves by Kraken this year, including a $600 million acquisition, a FIFA World Cup sponsorship, and a delayed US listing now pushed to 2027. Expanding tokenized equities internationally could open a new revenue stream and strengthen Kraken's position in the growing real-world asset tokenization space, though regulatory approvals are still needed in each market.
This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: The Block.