TLDR
- Payward launched tokenized versions of more than 200 UK and European stocks on November 11.
- Deutsche Börse confirmed that all 40 DAX constituents are available as tokens on 360X.
- GTN provides execution and custody infrastructure for the underlying shares.
- The xStocks framework offers access across more than 110 markets, excluding UK and US investors.
- xStocks holders lack direct shareholder voting rights and legal ownership of the underlying shares.
Payward launched tokenized versions of over 200 UK and EU stocks on November 11, 2026. The rollout also placed all 40 DAX constituents on Deutsche Börse-backed trading venue 360X. This gives the expansion a traditional exchange connection beyond Kraken’s existing tokenized stock distribution.
Deutsche Börse confirmed that tokens tracking SAP, Siemens, Allianz, and Deutsche Telekom are available on 360X. It also announced availability of tokenized Xetra-Gold, a physically backed gold exchange-traded commodity. The company says 360X operates under the European Union’s DLT Pilot Regime.
GTN Links Tokens to Underlying Shares
Payward’s xStocks framework creates blockchain tokens backed one-for-one by shares held with regulated custodians. Its partner GTN handles execution and custody of the underlying securities, Payward said. Every issued token corresponds to a purchase of an underlying share, according to the company.
That mechanism creates a potential channel linking token demand with established stock markets. However, Payward did not disclose separate trading volumes for the newly launched European instruments.
The November expansion follows a GTN partnership announced in July and previously covered by CoinCentral. Payward said the initial release covers more than 200 actively traded UK and EU-listed companies. Additional companies will join on a rolling basis. Payward said the rollout fulfills plans to tokenize the top 100 London-listed companies.
Investors Face Trading and Ownership Restrictions
The new tokens trade through Kraken and supporting xStocks Alliance platforms, subject to location restrictions. Payward says the framework is available across more than 110 markets. However, investors in the United Kingdom and United States cannot access xStocks.
Deutsche Börse describes round-the-clock trading across select venues. Payward’s disclosure specifies 24-hour trading on five weekdays for European Economic Area clients using Kraken.
Tokens also differ from ordinary shares. Kraken’s risk disclosure states that holders lack shareholder voting rights and direct claims on underlying stock. Backed Assets (JE) Limited issues these tokens. Payward Digital Solutions distributes them to eligible Kraken customers.
London Exchange Listing Remains Conditional
The London Stock Exchange announced its tokenization partnership with Payward on September 1. Under that agreement, London plans to list xStocks on its LSE 24 platform during 2027. The proposed listing requires regulatory approval and is separate from the November launch.
Payward also expects hundreds of Hong Kong-listed equities to follow in the coming weeks. It has not specified a firm launch date for those products. The company reports that xStocks now covers more than 1,500 assets. It cites $1.1 billion under management and $45 billion in cumulative trading volume.
