Kraken parent expands tokenized stocks to Hong Kong, UK and South Korea equities
Payward is expanding its xStocks tokenization platform to include equities from Hong Kong, the UK, and South Korea. This move aims to bring global capital markets on-chain, competing with other financial institutions testing tokenized securities.
Why it matters
The tokenization of traditional assets is a growing trend that promises to increase market efficiency and accessibility for global investors.
Payward, the developer of the xStocks framework, told CoinDesk it is working with investment infrastructure provider GTN to bring Hong Kong-listed stocks to the platform, with U.K., European and South Korean equities expected to follow, subject to regulatory approvals.
The partnership also lays the groundwork for expanding xStocks beyond equities into other tokenized asset classes, the firm added.
"The biggest asset class that hasn't been tokenized yet is the rest of the world," Mark Greenberg, global head of Payward Services, said in a statement. "One asset at a time, we're bringing truly global capital markets onchain until geography becomes irrelevant to investing."
The move comes as competition in tokenized equities intensifies, with crypto firms and Wall Street institutions racing to bring stock trading onchain.
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