Crypto exchanges are coming straight for traditional brokerages’ business.
Payward, Kraken’s parent company, has made a major move: it plans to launch tokenized products for more than 200 UK and European stocks through xStocks. Giants like Siemens, Shell, and LVMH are all included, covering the FTSE 100 and Germany’s DAX. The boldest part? It breaks free from traditional stock market hours, enabling trading 24/7.
And here’s a detail to note: in September 2026, Nasdaq Ventures invested $100 million in Payward. If the major hurdles around compliance, custody, and liquidity can be overcome, tokenized stocks could well make their way into on-chain lending and collateral pools, just like stablecoins.
In short: crypto exchanges’ rivals are no longer just Binance and Coinbase—they’re now major exchanges and online brokerages around the world.
Payward, Kraken’s parent company, has made a major move: it plans to launch tokenized products for more than 200 UK and European stocks through xStocks. Giants like Siemens, Shell, and LVMH are all included, covering the FTSE 100 and Germany’s DAX. The boldest part? It breaks free from traditional stock market hours, enabling trading 24/7.
And here’s a detail to note: in September 2026, Nasdaq Ventures invested $100 million in Payward. If the major hurdles around compliance, custody, and liquidity can be overcome, tokenized stocks could well make their way into on-chain lending and collateral pools, just like stablecoins.
In short: crypto exchanges’ rivals are no longer just Binance and Coinbase—they’re now major exchanges and online brokerages around the world.