London Stock Exchange collabora con Payward, società madre di Kraken, per lanciare azioni britanniche tokenizzate
Punti chiave
- •La London Stock Exchange ha stretto una partnership con Payward, società madre di Kraken, per offrire azioni tokenizzate che seguono i principali prodotti azionari britannici a partire dal 2027.
- •Le azioni tokenizzate saranno quotate su LSE 24, il nuovo mercato notturno che offrirà negoziazioni 24/5 dal lunedì al venerdì, annunciato il 21 luglio.
- •Tra le altre grandi società TradFi che stanno esplorando prodotti azionari tokenizzati figurano Nasdaq, CME Group e ICE; Deutsche Börse ha investito $200 milioni in Payward ad aprile.
- •Secondo RWA.xyz, il valore delle azioni tokenizzate è aumentato del 15% negli ultimi 30 giorni, raggiungendo $2.53 miliardi, mentre i possessori di equity tokenizzate sono saliti del 153% a 2.45 milioni.
- •Prima del lancio previsto per il 2027 restano centrali l’approvazione regolamentare finale e la struttura dei prodotti per rispettare le norme britanniche sui titoli.
The London Stock Exchange (LSE) and cryptocurrency exchange Kraken are reportedly preparing to launch tokenized stock trading on the exchange operator's new night-time trading venue.
According to a Tuesday report by the Financial Times, the LSE has partnered with Kraken's parent company, Payward, to offer tokenized stocks tracking the value of leading UK equity products starting in 2027. Mark Greenberg, chief commercial officer at Payward, disclosed the plans to the Financial Times.
The tokenized stocks will be listed on the LSE's new night-time trading venue, LSE 24, which will offer 24/5 trading from Mondays to Fridays, as the company announced on July 21. The venue is part of a broader effort by traditional exchanges to respond to growing retail demand for after-hours access to equities, demand that has been amplified in recent years by the rise of 24/7 cryptocurrency markets where prices never stop moving.
The move makes the London bourse the latest traditional exchange operator to explore blockchain-based stock offerings that can be traded around the clock with fractional ownership. Fractional ownership allows investors to buy portions of high-priced shares rather than whole ones, lowering the barrier to entry for smaller investors. Other traditional finance (TradFi) institutions exploring tokenized equity products include Nasdaq, CME Group and the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE).
In August, Nasdaq agreed to acquire LeveL Markets, the third-largest alternative trading system in the US by trading volume, as part of its push into tokenized markets with round-the-clock trading.
TradFi companies deepen tokenization push
Some of the world's largest TradFi institutions have been pursuing tokenized stock offerings, a trend that has accelerated as regulators in major markets have shown greater openness to blockchain-based securities. In the UK, the Financial Conduct Authority has operated a digital securities sandbox allowing firms to test trading and settlement of tokenized instruments under live conditions, providing a regulatory testing ground for initiatives of this kind.
In March, Nasdaq, the world's second-largest stock exchange by market capitalization, partnered with Payward and its Backed subsidiary, the issuer behind xStocks, to develop an equities transformation gateway. The plan builds on Nasdaq's tokenization proposal filed with US securities regulators in September 2025.
A week earlier, ICE invested in crypto exchange OKX to bring NYSE-listed tokenized stocks to the exchange starting in the second quarter of 2026.
In April, Deutsche Börse invested $200 million in Payward as part of the German exchange operator's plans to provide access to a broader range of blockchain-based securities and tokenized investment products, building on its prior partnership with Kraken. The April investment followed a March partnership between the two companies, making the LSE deal the latest in a series of Payward collaborations with major exchange operators.
In January, CME Group, the largest derivatives exchange by volume, announced plans to launch crypto futures contracts tied to Cardano (ADA), Chainlink (LINK) and Stellar (XLM). Three months later, CME announced plans to add Avalanche (AVAX) and Sui (SUI) futures contracts starting May 4, subject to regulatory approval.
According to data provider RWA.xyz, the value of tokenized stocks increased by 15% in the past 30 days to $2.53 billion, while the number of tokenized equity holders grew by 153% to 2.45 million. For the LSE and Payward, key questions ahead of the 2027 launch include final regulatory approvals and how the tokenized products will be structured to comply with UK securities rules.
