Kraken's Parent Builds Gateway for Wall Street to Enter Crypto Markets

Kraken's parent company, Payward, is building a gateway for Wall Street to enter the crypto market. The move involves tokenizing shares of London-listed companies and partnering with exchanges like Nasdaq and the London Stock Exchange.

The xStocks initiative allows investors from over 110 countries to access these shares programmatically on-chain. Payward counts $40 billion in xStocks volume since June 2025, with more than 200,000 holders.

Nasdaq is building a gateway with Payward for tokenized shares to cross between regulated venues and public blockchains. This launch targets the first half of 2027.

Kraken's own IPO has been delayed until at least the second quarter of 2027, according to sources. In April, Deutsche Börse paid $200 million for a stake in Payward, valuing it at around $13.3 billion.