LSEG Teams Up with Kraken Owner to Launch Tokenized UK Shares
London Stock Exchange Group (LSEG) has announced plans to launch tokenized UK shares in partnership with Payward, the parent company of crypto exchange Kraken. This move is part of LSEG's broader push into cryptocurrency markets and digital infrastructure.
The new initiative will allow products linked to UK-listed shares to be represented as blockchain-based tokens, which can be sold to people who currently trade cryptocurrencies. The tokenized shares will be available on Payward platforms in over 110 countries.
LSEG has been under pressure from activist investor Elliott Management, but its shares have risen 20% since Elliott's investment was disclosed. The exchange operator is also seeking to attract retail investors accustomed to round-the-clock trading with its upcoming 24-hour trading venue, LSE 24.