GTN and Payward, the
parent company of Kraken and developer of the xStocks tokenised equities
framework, have entered into a partnership to expand the range of assets
available through xStocks.
The announcement
follows Payward’s recent expansion of xStocks. In June, the company said it
would allow eligible retail investors to participate in tokenised US IPO
allocations through the framework. At the time, Payward said xStocks had
processed more than $30 billion in transaction volume across more than 125,000
holders.
Ankit Shah, Global Head of FinTech at GTN, Soruce: LinkedIn
Under the new
partnership, the companies will initially bring Hong Kong-listed equities to
the xStocks framework before expanding to the UK, European and South Korean
equities. They said the collaboration is also intended to support future
expansion into additional asset classes, subject to regulatory approvals.
GTN will provide
execution, custody and infrastructure for the traditional assets
underlying the tokenised products. The company said its platform covers
more than 90 markets through a single integration, enabling xStocks to expand
beyond its existing focus on US-listed equities.
In addition, GTN will provide ledgering and
record-keeping infrastructure to help issuers manage the underlying assets
backing tokenised products. Subject to obtaining the required licences in each
jurisdiction, GTN plans to make selected xStocks products available to its
institutional clients alongside its existing investment offering.
Ankit Shah, Global
Head of FinTech at GTN, said financial institutions want access to additional
markets and asset classes without replacing existing technology. He said GTN’s
infrastructure supports expansion across “90+ markets” and includes the
accounting technology needed for tokenised products.
xStocks Eyes Global Tokenised Asset
Expansion
The companies added
that the partnership could also broaden the range of assets available across
the xStocks ecosystem, which is already distributed through more than 100
exchanges, self-custody wallets and decentralised finance applications.
Mark Greenberg, Global
Head of Payward Services, said traditional capital markets remain fragmented by
geography and trading hours. He said “the biggest asset class that hasn’t
been tokenized yet is the rest of the world” and that the collaboration is
intended to bring “global capital markets onchain.”
The partnership is
already operational, the companies said, with distribution to GTN’s
institutional clients expected once the necessary regulatory licences are
obtained. Launched about a year ago with tokenised US stocks and ETFs, xStocks
has since expanded to more than 500 tokenised equities, ETFs and IPOs.
GTN and Payward, the
parent company of Kraken and developer of the xStocks tokenised equities
framework, have entered into a partnership to expand the range of assets
available through xStocks.
The announcement
follows Payward’s recent expansion of xStocks. In June, the company said it
would allow eligible retail investors to participate in tokenised US IPO
allocations through the framework. At the time, Payward said xStocks had
processed more than $30 billion in transaction volume across more than 125,000
holders.
Ankit Shah, Global Head of FinTech at GTN, Soruce: LinkedIn
Under the new
partnership, the companies will initially bring Hong Kong-listed equities to
the xStocks framework before expanding to the UK, European and South Korean
equities. They said the collaboration is also intended to support future
expansion into additional asset classes, subject to regulatory approvals.
GTN will provide
execution, custody and infrastructure for the traditional assets
underlying the tokenised products. The company said its platform covers
more than 90 markets through a single integration, enabling xStocks to expand
beyond its existing focus on US-listed equities.
In addition, GTN will provide ledgering and
record-keeping infrastructure to help issuers manage the underlying assets
backing tokenised products. Subject to obtaining the required licences in each
jurisdiction, GTN plans to make selected xStocks products available to its
institutional clients alongside its existing investment offering.
Ankit Shah, Global
Head of FinTech at GTN, said financial institutions want access to additional
markets and asset classes without replacing existing technology. He said GTN’s
infrastructure supports expansion across “90+ markets” and includes the
accounting technology needed for tokenised products.
xStocks Eyes Global Tokenised Asset
Expansion
The companies added
that the partnership could also broaden the range of assets available across
the xStocks ecosystem, which is already distributed through more than 100
exchanges, self-custody wallets and decentralised finance applications.
Mark Greenberg, Global
Head of Payward Services, said traditional capital markets remain fragmented by
geography and trading hours. He said “the biggest asset class that hasn’t
been tokenized yet is the rest of the world” and that the collaboration is
intended to bring “global capital markets onchain.”
The partnership is
already operational, the companies said, with distribution to GTN’s
institutional clients expected once the necessary regulatory licences are
obtained. Launched about a year ago with tokenised US stocks and ETFs, xStocks
has since expanded to more than 500 tokenised equities, ETFs and IPOs.
