Key facts
- Payward is launching xStocks to provide tokenized access to US IPO shares.
- Eligible Kraken users can express interest in IPO shares before public listing.
- The xStocks framework aims to reduce IPO access gaps for retail investors.
- Tokenized shares will be 1:1 backed by actual listed stocks held in regulated custody.
- The xStocks framework has handled over $30 billion in total transaction volume.
Payward, the parent company of cryptocurrency exchange Kraken, is introducing xStocks, a new framework designed to offer eligible retail users access to US Initial Public Offerings (IPOs) before they become available on public markets. This initiative seeks to democratize IPO access, which has traditionally favored institutional investors and private banking clients, by allowing selected Kraken customers to express interest and submit non-binding offers within the IPO price range.