Kraken's xStocks adds all 40 DAX companies among more than 200 tokenized UK and EU shares, but investors in the UK can't buy them

Tokenized stocks are no longer just a way to buy Wall Street names around the clock. Payward, the parent of crypto exchange Kraken, has added tokens tracking more than 200 UK- and EU-listed shares to its xStocks platform, including all 40 members of Germany's DAX index, Cointelegraph and CoinDesk reported. Cointelegraph named SAP, Siemens, Allianz and Deutsche Telekom among them.

The tokens can be traded by eligible users on Kraken and on platforms in the xStocks Alliance, but not by investors in the UK. Payward says each token is backed one-to-one by a share held with a regulated custodian. Kraken's risk disclosure says holders get exposure to the price but no voting rights or legal claim on the underlying stock, according to Cointelegraph.

The expansion takes xStocks past 1,500 tokenized assets, with more than $45 billion in cumulative transaction volume and over 550,000 holders, according to Payward figures reported by Cointelegraph. Token Terminal data put its market value at about $1.1 billion, about 22% of the $4.9 billion in tokenized stocks it tracks, behind Binance's bStocks at $1.5 billion and Ondo Finance at $1.4 billion. Payward plans to add hundreds of Hong Kong-listed shares in the coming weeks.