LSE Joins Forces with Kraken to Tokenize 100 UK Stocks on Blockchain

The London Stock Exchange (LSE) is teaming up with Payward, the parent company of Kraken, to introduce the xStocks platform. This will allow for 100 UK-listed companies to be tokenized on blockchain.

Each token will be backed 1:1 by the underlying stock, giving eligible investors worldwide access to tokenized UK shares. The first step is adding these stocks to Payward's existing xStocks platform, which has already processed over $40 billion in trading volume.

The partnership aims to modernize UK equity markets and connect traditional infrastructure with blockchain technology. The LSE plans to list the full xStocks suite on its upcoming LSE 24 trading venue, subject to regulatory approval.