Payward adds 200-plus UK and EU equity tokens to xStocks

Payward has added more than 200 tokenized equities linked to companies listed in the United Kingdom and European Union to its xStocks platform, extending a service that the company says now covers more than 1,500 assets. Eligible customers can trade the new tokens through Kraken and participating xStocks Alliance platforms, but investors in the UK cannot access them.

The initial selection focuses on some of the most actively traded UK- and EU-listed shares. It includes tokenized versions of all 40 companies in Germany’s DAX index, among them SAP, Siemens, Allianz and Deutsche Telekom. Deutsche Börse said the DAX tokens are also available on its affiliated 360X platform.

Payward says each token is backed one-to-one by a corresponding share held with a regulated custodian while the token is in circulation. The tokens provide exposure to the underlying shares’ performance, but holders do not directly own the shares or receive voting rights. Payward’s disclosures also say holders have no legal claims to the underlying stock.

The service is available in more than 110 markets, according to Payward, while its terms also bar US persons. Trading hours depend on the venue: Payward says...