LSE and Kraken Partner to Tokenize Major UK Stocks

Payward, the parent company of crypto exchange Kraken, has announced a partnership with the London Stock Exchange (LSE) to tokenize shares of 100 major UK companies on the blockchain as xStocks tokens.

The tokens will be backed 1:1 and available to retail and institutional investors in over 110 countries through Kraken platforms and the xStocks Alliance network.

UK residents, however, will not be able to trade these digital stocks yet due to regulatory restrictions. Once approved by regulators, they plan to list them on LSE's new platform, LSE 24, for after-hours trading.