Payward, Kraken's Parent Company, Collaborates with GTN to Expand Global Tokenized Stock Service XStock

Payward, the parent company of Kraken, has partnered with fintech infrastructure firm GTN to expand its tokenized stock service XStock globally. The collaboration will start with Hong Kong's stock tokenization, then expand to the UK, Europe, South Korea, and potentially other asset classes. Mark Greenberg, CEO of Payward Services Global, stated that legacy financial infrastructure has long fragmented capital markets by country, currency, and time zone, and this partnership aims to address that. GTN will provide infrastructure for over 90 markets and obtain necessary licenses. Payward acquired XStock in December 2023, which has grown to become one of the largest tokenized stock providers, tokenizing over 500 U.S. assets and serving more than 200,000 holders.