Investors in more than 110 countries and regions gained access to tokenized shares of European companies through the xStocks platform and partner venues. Some of the instruments are available for 24/7 trading.
Payward, the owner of crypto exchange Kraken, expanded the range of assets on its xStocks platform with more than 200 tokenized shares of U.K. and EU companies. The additions include stocks of all 40 companies in Germany’s DAX index. After the update, the total number of tokenized assets on the platform topped 1,500.
The tokenized stocks are available to eligible users of Kraken and of venues in the xStocks Alliance. In addition, all 40 DAX companies are listed on 360X, a trading platform linked to Deutsche Börse Group. Some venues offer round-the-clock trading in these assets.
The expansion brought tokenized versions of shares in major German companies to xStocks, including:
- enterprise software developer SAP (SAPx)
- industrial and technology group Siemens (SIEx)
- international insurance group Allianz (ALV.DEx)
- telecommunications company Deutsche Telekom (DTE.DEx)
Each token is backed 1:1 by the corresponding share. The underlying securities are held by a regulated custodian. The tokens give holders economic exposure to changes in the share price but don’t grant voting rights or direct legal rights to the underlying securities.
The expansion was carried out through a partnership between Payward Services and fintech company GTN, which handles execution and custody of the traditional securities. According to Payward, xStocks are available to investors in more than 110 markets, but users in the U.K. still can’t buy these instruments.
The xStocks platform launched in June 2025 with tokenized U.S. stocks and exchange-traded funds (ETFs). As of November 11, 2026, Payward reported the following results for the project:
- more than 1,500 tokenized assets
- more than $1.1 billion in assets under management
- more than $45 billion in cumulative transaction volume
- more than 550,000 unique token holders
xStocks tokens run on the Solana, Ethereum, TON, Ink, and X Layer blockchains, among others. They can be transferred between supported venues and wallets and used in decentralized finance (DeFi) applications.
According to Token Terminal, xStocks accounts for about 22% of the market capitalization of all tokenized stocks the platform tracks. That puts xStocks in third place, behind Ondo Finance and bStocks, which manage tokenized stocks worth $1.4 billion and $1.5 billion, respectively.
In the coming weeks, Payward also plans to add several hundred tokenized shares of companies listed on the Hong Kong Stock Exchange. The company is also working with the London Stock Exchange on a project to launch trading in tokenized stocks. Subject to the necessary approvals, xStocks are expected to be admitted to trading on the LSE 24 platform in 2027.
