London Stock Exchange to Bring Top 100 UK Stocks Onchain With Payward

Key Takeaways

• London Stock Exchange will work with Payward, Kraken’s parent company, to bring tokenized versions of the 100 largest UK-listed stocks onchain.
• The partnership could give investors in more than 110 countries access to U.K.-listed shares.
• The xStocks tokens, currently unavailable to U.K.-based investors, are designed to trade 24/7 across crypto exchanges, self-custody wallets, and onchain applications.
• Subject to regulatory approval, the LSE plans to list xStocks tokens on its new LSE 24-hour venue in 2027.

The London Stock Exchange Group (LSEG) announced that it will partner with Payward, the parent company of crypto exchange Kraken, to bring tokenized versions of the UK’s largest publicly listed stocks onto blockchain networks.

September 1, 2026

Over the coming weeks, the 100 largest LSE-listed stocks are expected to become available on Payward’s xStocks tokenized equities framework. The tokens, or xStocks, are backed 1:1 by the underlying shares and are designed to trade 24/7 across centralized exchanges, self-custody wallets, and onchain applications.

Arjun Sethi, Co-CEO of Payward, said, “For years, the assumption was that crypto and traditional finance were on a collision course, and one of them would have to lose. That was never the real story. The real opportunity is what happens when they run on the same rails. Tokenization hasn't just widened who can reach a market; it changes how the market itself works, how shares are issued, how they trade, how they settle, and how freely they move once they do.”

The partnership follows a broader shift in public markets towards tokenizing real-world assets like equities and bonds, then issuing blockchain-based versions for 24/7 availability.

A share held in a traditional brokerage account is settled during exchange hours, and the chain of intermediaries can take days. Conversely, its tokenized counterparts can move instantly, 24/7, into a self-custody wallet or a DeFi protocol.

The partnership is expected to expand access to UK-listed equities beyond traditional market hours and geographic restrictions. Payward said xStocks have already generated over $40 billion in total trading volume, with nearly $20 billion settled onchain, and now have more than 200,000 holders.

Under the agreement, U.K.-listed shares could reach investors across 110 countries via blockchain rails. However, xStocks are still unavailable to U.K.-based investors.

Subject to regulatory approval, the LSE plans to begin listing xStocks and supporting their trading on LSE24, its planned 24-hour trading venue.

The partnership will also explore a longer-term model in which the LSE could issue equity tokens directly. Such tokens could potentially provide the same rights and ownership associated with conventional shares, rather than simply tracking their value.

LSE CEO Julia Hoggett said, “Tokenization has the potential to change how investors access, and how issuers use, financial markets, but it must develop in a way that preserves the trust, ⁠rights and role of regulated markets.”

The move adds the LSE to a growing list of leading financial institutions exploring blockchain-based securities as traditional markets move toward 24/7 trading and faster settlement.

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