London Stock Exchange to tokenize major UK equities via Kraken parent

Under this agreement, the first batch of British equities will be available as xStocks within the coming weeks. Each token is backed one-to-one by the underlying security, allowing investors to move assets into self-custody wallets or trade them continuously across supported platforms. While these products have already facilitated over $40 billion in total trading volume internationally, they remain unavailable to investors based in the United Kingdom.

Beyond current distribution, the London Stock Exchange intends to integrate these assets into LSE 24, its proposed round-the-clock trading venue, pending regulatory approval. The two firms are also exploring the development of natively issued equity tokens. Unlike the existing xStocks model—which relies on traditional custody—this secondary phase would involve issuing shares directly on the blockchain, granting them full fungibility and identical rights to conventional securities.