LSEG & Payward Unveil Tokenized xStocks for Top 100 UK Companies
The London Stock Exchange Group (LSEG) has announced a partnership with Payward, the parent company of Kraken, to tokenize UK stocks. The joint venture aims to launch tokenized equity structures as xStocks, starting with the top 100 listed companies in 2027.
The move comes after LSEG's earlier plans for a blockchain-based settlement service and follows Kraken's launch of US stock trading in the European Economic Area (EEA). The partnership will explore wallet-based access, blockchain infrastructure, and connectivity with LSEG's regulated market ecosystem.
LSEG CEO Julia Hoggett emphasized that tokenization must preserve trust, rights, and the role of regulated markets. Payward co-CEO Arjun Sethi sees the collaboration as proof that crypto and traditional finance can work together rather than compete.