Kraken parent Payward expanded xStocks to over 1,500 tokenized assets by adding more than 200 equities from the United Kingdom and European Union, including all 40 companies in Germany's DAX index—SAP, Siemens, Allianz, and Deutsche Telekom among them.
Eligible users can trade the new tokens directly on Kraken and participating xStocks Alliance platforms as of Wednesday. U.K. investors remain excluded from the offering.
Each token is backed one-to-one by actual shares held in custody. Token holders gain exposure to underlying share performance but do not receive voting rights or legal claims to physical stock, according to Kraken's risk disclosure.
xStocks has processed $45 billion in cumulative transaction volume and serves more than 550,000 unique holders globally. Token Terminal data values the platform at $1.1 billion market capitalization, representing 22 percent of the $4.9 billion tokenized stock sector tracked by the firm.
xStocks ranks third by market cap behind Binance's bStocks at $1.5 billion and Ondo Finance at $1.4 billion. The tokens are also traded on Deutsche Börse's 360X platform, which supports 24/7 trading.
Payward plans to add hundreds of Hong Kong-listed equities in the coming weeks, expanding geographic reach into Asia.
