LSE Partners With Payward to Tokenize UK Stocks
The London Stock Exchange (LSE) has partnered with Payward to bring UK stocks to the blockchain. This partnership will allow some of the biggest companies in the UK to be listed on the xStocks platform, which is a tokenized equity solution developed by Payward.
The tokens on the blockchain will have a one-to-one backing from the underlying shares and will run 24/7 on the crypto exchanges that support them. According to Payward, xStocks has handled a total volume in excess of $40 billion in less than a year, with almost $20 billion settled on-chain.
The LSE Payward Partnership aims to provide UK-listed firms access to investment from more than 110 nations via the use of blockchain technology infrastructure. If regulatory approval is gained, the LSE intends to list xStocks and facilitate trading of xStocks on LSE 24, which is its proposed 24-hour trading facility.