Kraken's Payward to Tokenize 100 London Stocks as xStocks
Payward targets LSE 24 for around-the-clock trading of tokenized UK equities, pending FCA approval.
Kraken's parent company Payward plans to tokenize 100 London-listed equities as "xStocks," with LSE 24 — the London Stock Exchange's planned 24-hour trading venue — set to support secondary market activity, subject to regulatory approval, according to The Block.
Why It Matters
Tokenized equities represent one of the clearest bridges between traditional finance and crypto-native infrastructure, and Payward's move puts it squarely at that intersection. For iGaming operators and crypto-adjacent platforms that already handle digital assets, tokenized stocks open a new class of collateral and settlement instrument. If LSE 24 approval clears, retail traders could access UK-listed shares around the clock on blockchain rails — a structural shift away from exchange-hours dependency. The xStocks initiative also signals growing institutional confidence that tokenized real-world assets (RWAs) can meet regulatory scrutiny in a major G7 market.
Context
As of September 2026, Payward operates Kraken, one of the largest crypto exchanges by volume globally. The tokenized-stock concept is not new — several platforms attempted similar products between 2021 and 2023 before regulatory pressure forced shutdowns — but LSE 24's involvement lends this iteration significantly more legitimacy. The UK's Financial Conduct Authority has been progressively clarifying its crypto-asset framework, creating a more navigable path for products that blend equity and blockchain infrastructure.
What's Next
Regulatory approval from UK authorities remains the critical gate before any xStocks trading can begin on LSE 24. No approval timeline has been disclosed as of September 2026.
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