CryptoEurope

Kraken's xStocks passes $1.1 billion as tokenized European shares expand

More than 200 British and European shares have now been added to xStocks, the tokenized share product run by Kraken's parent, Payward. Assets held under the product now total over $1.1 billion, and eligible overseas investors can trade at any hour.

Illustration: Close up, a hand holds a phone with a plain coin on its screen, printed in pink and teal overlapping inks with yellow token shapes floating behind.
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Payward, which runs the crypto exchange Kraken, has rolled out xStocks versions of over 200 shares listed in Britain and Europe. Tokenized stocks are digital tokens that stand for shares in a company and can be moved across blockchain networks. In its November 11 statement, the company said Siemens is one of the firms now part of the offering.

Eligible international investors can trade these tokens around the clock, not only during set exchange hours. Total assets under the xStocks offering have passed $1.1 billion. Until now, the product had centered on U.S. equities, so the move marks a change of direction toward Europe.

For general investors, the change means more company shares are available in token form on crypto platforms. The expansion widens the choice of stocks that can be held on a blockchain, a shared digital record kept across many computers.

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