Payward, the parent company of cryptocurrency exchange Kraken, plans to allow retail investors to participate in U.S.-listed initial public offerings at the IPO price through its tokenized equity infrastructure, xStocks.
The move is based on Kraken’s expansion into token shares. In February this year, the company said The transaction volume in the xStocks ecosystem has exceeded $25 billion In less than eight months, with over $3.5 billion settled on-chain and over 80,000 holders participating.
Payward opens access to retail IPO
Clients of select xStocks Alliance members, including Kraken, will be able to express interest in upcoming IPOs in the US before the companies begin public trading. Eligible investors who receive the allotments will receive token shares at the offering price on the listing day.
Under the Payward process, partner platforms will open an indication of interest window prior to the IPO, allowing clients to place non-binding orders within the issuer’s specified price range. Payward said it will aggregate demand across xStocks Alliance members and will work with underwriting syndicates to secure allocations.
Once the IPO is completed, the allocated shares will be tokenized and distributed to eligible investors through participating platforms. Each token share will be backed one-for-one by a basic share held by a regulated entity, according to the company.
Retail investors have historically faced barriers to participating in IPOs, with access often limited “by geography and net worth,” said Mark Greenberg, global head of Payward Services.
new: @krakenfx Parents @Payward It will provide retail investors with access to US IPOs at the offering price through it @xStocksFi Token stock platform. pic.twitter.com/frlyUo4hgi
— CoinDesk (@CoinDesk) June 3, 2026
Cryptocurrency companies are racing to expand the tokenization space
The offering is based on xStocks, Payward’s proprietary token Stocks range. The tokens are backed by underlying shares and can be used across participating platforms within the alliance, the company said.
Payward said the framework has processed more than $30 billion in transaction volume, including more than $6 billion settled on-chain, and has reached more than 125,000 holders globally.
The company did not disclose the initial public offerings that will be included in the initial offering or identify the participating underwriting companies.
The first token IPO through the xStocks framework is expected to be allocated in the coming weeks to Kraken clients and other xStocks Alliance members. Payward said it plans to expand the service to additional markets and partners over time.
The announcement comes as competition in tokenized securities increases, with cryptocurrency companies expanding their efforts to bring traditional assets such as stocks, ETFs and other real instruments to the market. blockchain Infrastructure.
This article was written by Tariq Sikdar at www.financemagnates.com.
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