# Payward expansion into tokenized equities > Live situation record from CLSTR: https://clstr.news/situations/payward-expansion-into-tokenized-equities > Updated: 2026-09-11T06:21:48.000Z. Sources: 15. Developments: 2. Payward, the parent company of the Kraken cryptocurrency exchange, is expanding its efforts to develop infrastructure for tokenized equities through strategic partnerships. Initially, the London Stock Exchange announced a partnership with Payward to tokenize the 100 largest companies listed in London. These assets, referred to as ‘xStocks’, are designed to be backed 1:1 by underlying shares to provide 24/7 trading access to international investors, though they do not grant traditional shareholder rights like voting. Following this, Nasdaq Ventures invested $100 million in Payward to support the development of Nasdaq Equity Tokens (NETs). This collaboration focuses on creating blockchain-based representations of publicly traded securities, with an expected market availability in the second quarter of 2027. As part of this arrangement, Payward will integrate Nasdaq’s market-surveillance technology across its trading venues to provide traditional exchange-level oversight to digital asset trading. ## Timeline ### 2026-09-11: Nasdaq invests $100 million in Payward for tokenized stocks Nasdaq Ventures is investing $100 million in Payward (Kraken) to develop blockchain-based tokenized stocks, expected to launch in Q2 2027 using Nasdaq’s market-surveillance technology. 4 sources. https://clstr.news/cluster/nasdaq-invests-100-million-in-payward-for-tokenized-stocks ### 2026-09-01: London Stock Exchange and Payward partner to tokenize top 100 UK stocks The London Stock Exchange and Payward are partnering to launch tokenized versions of the 100 largest UK-listed stocks, enabling 24/7 global trading via the xStocks framework. 11 sources. https://clstr.news/cluster/london-stock-exchange-partners-with-payward-for-tokenized-equities --- Cite as: Payward expansion into tokenized equities. CLSTR, https://clstr.news/situations/payward-expansion-into-tokenized-equities