London Stock Exchange partners with Kraken parent for tokenized UK stocks: FT

The London Stock Exchange (LSE) and cryptocurrency exchange Kraken are reportedly launching tokenized stock trading on the stock market operator’s new night-time trading venue.The LSE has partnered with Kraken’s parent company, Payward, to launch access to tokenized stocks tracking the value of leading UK equity products starting in 2027, Payward’s chief commercial officer, Mark Greenberg, told the Financial Times according to a Tuesday report.The tokenized stocks will be listed on LSE’s new night-time trading venue, LSE 24, that will offer 24/5 trading, operating from Mondays to Fridays, the company announced on July 21.The initiative makes the London bourse the latest traditional exchange operator to explore blockchain-based stock offerings that can be traded 24 hours a day with fractional ownership. Other traditional finance (TradFi) institutions exploring tokenized equity products include the Nasdaq, CME Group and the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE).In August, Nasdaq agreed to acquire LeveL Markets, the third-largest alternative trading system in the US by trading volume, as part of its push into tokenized markets with r...