Payward, the parent company behind Kraken and its xStocks tokenised equities framework, has partnered with GTN to expand beyond US markets into Hong Kong, UK, European and South Korean equities. The collaboration became operational immediately, with GTN providing execution, custody and infrastructure for traditional assets underlying the tokenised products across more than 90 global markets.
xStocks has already processed over 30 billion dollars in transaction volume across 125,000 holders and is distributed through more than 100 exchanges, wallets and DeFi applications. GTN will initially focus on Hong Kong-listed equities before broadening to other regions, subject to regulatory approvals in each jurisdiction. The firm plans to offer selected xStocks products to its institutional clients alongside existing investment options.
Mark Greenberg from Payward Services emphasized that traditional capital markets remain fragmented by geography and trading hours, calling the rest of the world’s equities “the biggest asset class that hasn’t been tokenized yet.”
FXnCO Insight
Institutional traders should monitor this expansion as tokenised access to Asian and European equities could fragment liquidity across traditional and blockchain-based venues.
Source: Finance Magnates