Payward, Kraken parent, expands xStocks beyond U.S. equities with GTN

Kraken parent Payward has partnered with fintech infrastructure provider GTN to expand its xStocks tokenized equity platform beyond U.S.-listed stocks and exchange-traded funds. Summary Payward and GTN will take xStocks beyond U.S. equities, starting with Hong Kong-listed shares globally. GTN will provide execution, custody and record-keeping infrastructure across more than 90 international financial markets. xStocks has grown past 500 tokenized assets and $37 billion in transaction volume since launch. The companies will start with equities listed in Hong Kong before targeting the UK, Europe, South Korea and other markets. The expansion will depend on local regulatory approvals and licences, according to a July 22 announcement from Payward. The partnership could also bring other asset classes to xStocks over time. GTN will provide the traditional market infrastructure that supports the next phase of xStocks. Its services include execution, custody, ledgering and record-keeping across more than 90 markets. Payward will continue to provide the tokenization framework that creates blockchain-based versions of the underlying assets. A new (global) chapter for xStocks.After pioneering t...