GTN, a Dubai-based brokerage infrastructure provider, has appointed Mark Jennings, the former CEO of Gemini Europe, as its global head of digital assets. Jennings will lead GTN's efforts in tokenized securities, which involve placing traditional assets like shares on a blockchain for 24/7 trading. GTN already has a presence in this market, having been selected by Kraken parent Payward in July to provide execution, custody, and record-keeping for xStocks, starting with Hong Kong-listed shares.
The tokenized stocks segment remains small but has shown significant growth, doubling in the year to October 2025. As of September this year, the assets backing xStocks alone surpassed $800 million, according to Kraken. Jennings brings extensive experience to his new role, having previously held senior positions at Kraken, including as CEO of Crypto Facilities, a derivatives venue for institutional clients.
Jennings joined Gemini in January 2025 to run its European operations but left after the company shut down its UK, European Economic Area, and Australian accounts in April this year to focus on the US market. GTN's co-founder and group CEO, Manjula Jayasinghe, highlighted the growing demand for tokenized securities, which is expected to accelerate in the coming years.
GTN has been expanding its team, with its headcount rising to over 700 staff and 500 clients as of today. The company won a Hong Kong securities dealing license in March, adding to its five other regulated entities. Senior hires this year include Salim Sebbata from Capital.com and Daniel Endler from Saxo Bank.