Kraken's xStocks adds 200+ UK and EU shares as assets top $1.1bn

Here's what happened. xStocks, run by Kraken's parent Payward, added more than 200 of the most traded UK and EU-listed shares on 11 November, the company said. CoinDesk reported the batch includes all 40 firms in Germany's DAX index, such as SAP, Siemens and Allianz.

The service now holds more than $1.1bn in assets and has passed $45bn in total trading, with more than 550,000 holders, according to Payward. It offers over 1,500 tokens in all.

How does it work? Each token tracks a share and is backed by real shares held with a regulated custodian, the firm that keeps the assets safe. GTN handles buying and holding those shares. But a token gives you no ownership of the company itself, CoinDesk noted, and dividends are reinvested into more tokens rather than paid in cash.

Who can buy? Not people in the US or the UK, Payward said. The tokens are issued by a Jersey company and are not registered with any local securities regulator. In the EU, a Cyprus arm of Payward authorised by CySEC provides the service.

Hong Kong-listed shares are due in the coming weeks, and the London Stock Exchange plans to list xStocks in 2027, subject to approval.