LSE Partners with Kraken Parent to Bring Top UK Stocks on Blockchain
The London Stock Exchange has partnered with Payward, the parent company of Kraken, to bring shares of the 100 largest UK companies to its xStocks tokenization platform. This move comes as part of Payward's efforts to expand beyond US stocks.
xStocks will be backed by corresponding traditional shares on a 1:1 basis, allowing users to access traditional stocks with additional blockchain features. The partnership aims to bring eligible investors across 110 countries access to tokenized versions of major UK stocks.
The London Stock Exchange has been taking initiatives to support trading of tokenized stocks to its clients and is planning to add tokenized stocks to its LSE 24 venue, which will list xStocks and support their trading via a round-the-clock trading system. The platform could also add other possible types of assets.