Kraken's xStocks Crosses $1.1 Billion as 200 UK and EU Shares Go Live

Payward, the parent company of cryptocurrency exchange Kraken, said its xStocks product has surpassed $1.1 billion in assets after adding 200 UK and EU shares to the platform, according to a CoinDesk report. The expansion widens the range of tokenized equity exposure available to users in British and European markets.

According to the report, each xStocks token is backed by an underlying share but gives holders no ownership of the company concerned. That structure places the product closer to a tokenized exposure or tracking instrument than to conventional share ownership, a distinction that carries weight for investor rights, voting, and any dividend treatment. Payward did not disclose a breakdown of the $1.1 billion figure by asset or jurisdiction in the reported details.

The move adds momentum to the tokenized equities sector, where issuers are competing to bring traditional securities on-chain while regulators in the UK and EU continue to shape rules for crypto and tokenized assets. The key questions for the market will be how the backing shares are held and audited, how redemption works, and whether regulators treat such tokens as securities. Incisor News has not independently verified the asset figure or the terms of the share backing.