Payward's xStocks partnership with GTN adds Hong Kong stocks onchain, with U.K., European and South Korean markets to follow. The platform has processed $35B in volume across 500+ securities.
The parent company of crypto exchange Kraken is adding Hong Kong stocks to its tokenized equity offering, with London, European and South Korean markets expected to follow.
Payward, the developer of the xStocks framework, said it is working with investment infrastructure provider GTN to bring Hong Kong-listed companies onchain. The expansion targets the gap in tokenized securities, which have largely focused on U.S. equities until now.
"The biggest asset class that hasn't been tokenized yet is the rest of the world," Mark Greenberg, global head of Payward Services, said in a statement. "One asset at a time, we're bringing truly global capital markets onchain until geography becomes irrelevant to investing."
The partnership also lays the groundwork for expanding xStocks beyond equities into other tokenized asset classes, Payward said.
Tokenized equity platforms have mostly offered blockchain-based versions of U.S. stocks such as Nvidia (NVDA), Apple (AAPL) and Tesla (TSLA). Expanding to Asian and European markets gives investors access to companies tied to the AI supply chain that have drawn global retail interest, including Taiwanese semiconductor makers and South Korean chip firms.
Payward's xStocks platform now supports more than 500 tokenized securities, has processed over $35 billion in trading volume and has nearly 200,000 holders, the company said. The products remain unavailable to U.S. investors.
GTN, which connects to more than 90 global markets, will provide execution, custody and recordkeeping for the securities backing the tokens. Subject to regulatory approvals, it also plans to offer xStocks products to its institutional clients.
The move comes as competition in tokenized equities intensifies. Robinhood (HOOD) recently expanded its tokenized stock offering beyond European users. Coinbase (COIN) is also planning stock tokens. The Depository Trust & Clearing Corporation has begun testing tokenized securities infrastructure, while Nasdaq and the New York Stock Exchange have started tokenization initiatives.
Citi has estimated that tokenized securities could grow into a $5.5 trillion market by 2030, including $2.6 trillion in tokenized equities.
The industry is divided on how tokenized stocks should be issued. Projects such as xStocks rely on third-party issuers that purchase and custody traditional shares before minting tokens. Others argue securities should be issued natively on blockchain networks, eliminating intermediaries. Wall Street transfer agents have lobbied the SEC, warning that third-party tokens pose risks to market integrity.
NVDA trades at $207.29, up 1.97% on the session. AAPL is at $327.74, up 0.35%.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.