Payward, London Stock Exchange join forces to tokenize top UK stocks

The London Stock Exchange (LSE) and Payward are teaming up to bring tokenized versions of the UK’s largest listed companies onto the blockchain rails, the companies announced Tuesday. The parent company of crypto exchange Kraken plans to tokenize the top 100 London-listed stocks as xStocks, while the LSE will explore supporting their trading on LSE 24, its planned 24-hour trading venue, subject to regulatory approval. The effort marks the expansion of xStocks into one of the world’s major equity markets. Since launching just over a year ago, xStocks have accumulated more than $40 billion in total volume, including more than $20 billion in onchain settlement volume. The framework now has more than 200,000 holders and has already demonstrated how tokenized assets can provide investors with access to companies and markets beyond traditional geographic and market-access boundaries. The planned UK rollout will make the top 100 London-listed companies available as xStocks to investors in more than 110 countries. The tokens will offer continuous, onchain exposure to the UK’s biggest listed names, although they are not currently available to UK investors, Payward stated. If regulators appr...