Payward, the parent company of crypto exchange Kraken, has tokenized more than 200 of the most actively traded stocks listed in the United Kingdom and European Union through its xStocks platform. The company announced the expansion on Wednesday, describing it as its largest move beyond U.S. equities to date.

The first batch includes shares of companies such as HSBC, Shell, LVMH and Airbus. Payward said additional stocks will be added on a rolling basis. Each xStock is backed 1:1 by the underlying share, which is purchased and held by a regulated custodian for as long as the token remains in circulation, according to the company — meaning token holders get on-chain exposure to listed shares without those shares leaving regulated custody.

The launch was announced by Payward in its official press release and on X:

Payward's @xStocksFi is expanding beyond US tokenized equities. In partnership with @GTNglobal , more than 200 of the UK and EU’s largest equities are now tokenized by xStocks, including HSBC, Shell, LVMH and Airbus. The first international launch, with more markets to follow.… — Payward (@Payward) November 11, 2026

The tokens are available through Kraken and other platforms in the xStocks Alliance, as well as on blockchains where xStocks already trade, including Solana, Ethereum and TON. They are offered in more than 110 markets but are not available to investors in the UK. That means investors across a wide swath of markets can now hold tokenized versions of European blue chips such as HSBC and Shell, even as the UK keeps the tokens out of its own market.

"A portfolio should not have borders or trading hours," Mark Greenberg, Payward's chief commercial officer, said. "Tokenizing every other international market is the next step."

The expansion brings the total number of tokenized stocks, exchange-traded funds and initial public offerings on xStocks to more than 1,500, Payward said. The platform holds more than $1.1 billion in assets, has processed over $45 billion in total transaction volume and has more than 550,000 holders.

Hong Kong and London expansion

The new tokens are the first products delivered under Payward's partnership with GTN, a brokerage infrastructure firm responsible for executing trades and providing custody for the underlying shares. When the companies announced their partnership in July, Payward said it planned to begin with stocks listed in Hong Kong. Hundreds of Hong Kong listings are now expected to follow in the coming weeks, according to the company, a timeline that makes Hong Kong the next market to watch.

The European expansion also advances Payward's partnership with the London Stock Exchange, announced in September. Under that agreement, Payward committed to tokenizing the 100 largest companies listed in London. Subject to regulatory approval, the exchange plans to list xStocks and begin trading them on LSE 24, its planned near-24-hour trading venue, in 2027.

Payward has also attracted investment and partnerships from traditional exchanges. Nasdaq agreed in September to invest $100 million in the company at a $21 billion valuation. The investment followed a partnership announced in March to bring tokenized stocks to market in 2027. Deutsche Börse bought a $200 million stake in Payward in April. Those commitments tie several major exchange operators directly to the build-out of tokenized equity infrastructure.

The company is also expanding through acquisitions. Payward agreed to acquire derivatives exchange Bitnomial for $550 million and to buy Lithuania's Saldo Bank as part of an effort to expand in the European Union, adding derivatives trading and EU banking capabilities alongside its tokenization efforts.