Kraken Parent Company Payward Expands xStocks Platform to Hong Kong, UK, and South Korean Stocks... Accelerating Global Asset Tokenization

On July 22, 2026, Payward, the parent company of Kraken, significantly expanded the service scope of its tokenized stock platform, xStocks, to the Hong Kong, UK, and South Korean markets. This move marks a strategic turning point for Payward as it shifts from a US-centric stock service to becoming a global on-chain financial infrastructure provider.

The announcement comes at a time when major Asian financial hubs are refining regulatory frameworks to support the secondary trading of digital securities. Through this, Payward is accelerating the construction of a 'multi-asset super-infrastructure' that allows global stock markets to be traded on the blockchain.

This expansion of xStocks was driven by intensifying competition within the industry to bring global stock markets on-chain. By tokenizing stocks in markets outside the US, Payward aims to provide investors with the benefits of blockchain technology, such as 24/7 trading and instant settlement.

Tokenization will be a key driver in maximizing the efficiency of financial markets and providing new opportunities to investors around the world.

The Hong Kong Securities and Futures Commission (SFC) established a regulatory foundation by issuing a circular on the secondary trading of tokenized investment products on April 20, 2026. While acknowledging that tokenization can increase transparency and reduce costs in financial markets, the SFC is demanding thorough management of technical risks.

Regulatory Compliance in Korea and Changes in the Fractional Investment Market

The Financial Services Commission (FSC) of Korea announced plans to allow bundled assets for fractional investment and review over-the-counter (OTC) trading limits through its token securities guidelines in July 2026. Korean authorities are adhering to a 'compliance-first' principle to ensure that tokenized stocks can be traded safely within the regulatory framework of the Capital Markets Act.

• April 20, 2026: Hong Kong SFC announces framework for secondary trading of tokenized products
• July 2026: Korea FSC reviews token securities guidelines and OTC trading restrictions
• July 22, 2026: Payward expands xStocks service to include Hong Kong, UK, and Korean stocks

Payward is also expanding its role as an infrastructure provider. On July 16, 2026, major cryptocurrency exchange OKX announced that it would launch its own tokenized stock service utilizing Payward's xStocks technology. This is an example demonstrating that Payward's technological capabilities are becoming an industry standard.

According to Payward's Q1 2026 earnings report, the company recorded $507 million in adjusted revenue, a 3% increase year-over-year. In particular, Daily Average Revenue Trades (DARTs) in the futures segment surged by 51%, successfully hedging against the volatility of the traditional cryptocurrency trading market.

On July 17, 2026, a milestone was reached allowing retail investors to be allocated tokenized shares at US IPO offering prices through xStocks. Additionally, Payward completed the acquisition of fintech company Reap on July 1, 2026, further strengthening its global payment and asset management capabilities.

Through a long-term partnership with Nasdaq, Payward is developing a digital securities trading system with a target official launch in 2027. This expansion into the Hong Kong, UK, and Korean markets is considered a key foundational step for Payward's 2027 roadmap to integrate global capital markets.