Payward's xStocks ventures beyond U.S. equities as the race to integrate global stock markets onchain gains momentum.
By Krisztian Sandor|Edited by Sheldon Reback Jul 22, 2026, 10:30 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Payward and Kraken co-CEO Arjun Sethi (CoinDesk)SummaryShow- The parent company of the cryptocurrency exchange Kraken, Payward, is extending its xStocks platform to include shares from Hong Kong, the UK, South Korea, and other international markets.
- This expansion increases competition in the realm of tokenized equities as companies like Robinhood and Coinbase embark on similar projects.
- Tokenized securities are rapidly emerging as a significant link between cryptocurrency and traditional finance.
Payward, the firm behind the xStocks initiative, aims to provide investors with onchain access to stocks from a variety of countries beyond the U.S.
According to a statement to CoinDesk, Payward is collaborating with GTN, an investment infrastructure provider, to incorporate stocks listed in Hong Kong into the xStocks platform, with plans to add equities from the UK, Europe, and South Korea pending regulatory approval.
This collaboration also sets the stage for expanding xStocks into additional tokenized asset classes, as stated by the company.
Mark Greenberg, global head of Payward Services, remarked, "The biggest asset class that hasn't been tokenized yet is the rest of the world. One asset at a time, we're bringing truly global capital markets onchain until geography becomes irrelevant to investing."
Expanding Tokenized Stocks Beyond U.S. Borders
This initiative comes amid intensifying competition in the tokenized equity market, where both crypto firms and traditional financial institutions are vying to facilitate onchain stock trading.
Recently, Robinhood (HOOD) enhanced its tokenized stock offerings for users outside Europe, and Coinbase (COIN) is also gearing up to introduce stock tokens. The Depository Trust & Clearing Corporation (DTCC), which serves as the backbone of U.S. securities markets, has initiated testing for a tokenized securities infrastructure, while Nasdaq and the New York Stock Exchange are also embarking on tokenization projects.
This trend indicates a growing belief that tokenization — the representation of traditional assets as blockchain tokens — could enhance capital market efficiency through quicker settlements, 24/7 trading, and streamlined asset movement. Citi projects that the market for tokenized securities could reach $5.5 trillion by 2030, with $2.6 trillion in tokenized equities.
Until now, platforms for tokenized equities have mainly focused on mirroring U.S. markets onchain by offering blockchain versions of well-known stocks like Nvidia (NVDA), Apple (AAPL), and Tesla (TSLA). By extending xStocks to international markets, investors will gain access to a broader array of companies, including prominent Asian firms linked to the AI supply chain, which have become increasingly attractive to global retail investors.
The GTN partnership signifies a new phase for xStocks, which launched last year with tokenized U.S. stocks and ETFs. Currently, the platform supports over 500 tokenized securities, has processed trading volumes exceeding $35 billion, and boasts nearly 200,000 holders, according to Payward. However, these products are not yet available to U.S. investors.
GTN, which accesses more than 90 global markets, will handle execution, custody, and recordkeeping for the securities that back the tokens. If regulatory approvals are granted, it also intends to provide xStocks offerings to its institutional clients.
This announcement arrives as discussions intensify regarding the mechanisms for issuing tokenized stocks. Initiatives like xStocks rely on third-party issuers that acquire and hold traditional shares before creating tokens. Conversely, some stakeholders advocate for the native issuance of securities on blockchain networks to eliminate intermediaries.
This ongoing debate is attracting increased scrutiny from regulators and market infrastructure entities as tokenized securities inch closer to mainstream finance.
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TRON Network - Q2 2026
TRON Network - Q2 2026
In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
By CoinDesk Research22 hours agoCommissioned byTronIn Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
Why it matters:
In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
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