Payward, the parent company of Kraken, has expanded its xStocks platform by adding over 200 tokenized equities from the United Kingdom and the European Union. This update includes all 40 companies listed in Germany’s DAX index, such as SAP, Siemens, Allianz, and Deutsche Telekom. The tokens are now available for trading on Kraken and through the xStocks Alliance network, though they remain restricted for investors based in the UK.
The new assets are backed one-to-one by shares held with a regulated custodian. According to Kraken’s risk disclosures, these tokens provide exposure to the performance of the underlying stocks but do not grant holders voting rights or legal claims to the shares. Deutsche Börse confirmed that these tokens are also tradable on its 360X platform, with select venues supporting 24/7 operations.
This expansion brings the total number of tokenized assets on xStocks to more than 1,500. Payward reported a cumulative transaction volume exceeding $45 billion and a user base of over 550,000 unique holders. Data from Token Terminal values the xStocks market capitalization at $1.1 billion, placing it third in the sector behind Binance bStocks at $1.5 billion and Ondo Finance at $1.4 billion.
Looking ahead, Payward intends to further diversify its offerings by integrating hundreds of equities listed in Hong Kong. The company plans to execute this expansion in the coming weeks as part of its ongoing growth strategy for the xStocks platform.
