The London Stock Exchange Is Tokenizing Its Top 100 Stocks — For Everyone Except Britain

The London Stock Exchange agreed a partnership with Kraken's parent Payward to tokenize the 100 largest UK-listed companies through the xStocks platform, with first tokens expected on Kraken and allied venues in the coming weeks for investors in more than 110 countries — though not to UK-based investors, per the announcement and coverage. Each token is backed 1:1 by the underlying share, issued by Jersey-registered Backed Assets, and carries no voting rights. Subject to regulatory approval, the LSE plans to list xStocks on its LSE 24 extended-hours venue in 2027, and the firms will explore native on-chain share issuance through LSE infrastructure.