xStocks Adds 200+ UK and EU Equities, Including DAX 40

Payward said on 11 November 2026 that xStocks, its tokenised-equities framework, has launched its first batch of tokenised UK and EU-listed shares, covering “200+ of the most actively traded companies listed in the UK and European Union.” A Payward press release and a matching xStocks news post both date the expansion 11 November. A separate Deutsche Börse Group release the same day said tokenised versions of every DAX 40 constituent are available on 360X, the Deutsche Börse-backed venue regulated under the EU’s DLT Pilot Regime.

The Payward UK and EU release is the source for the scale figures used here. It says the launch “takes xStocks past 1,500 tokenised assets in total,” that the framework “holds over $1.1 billion in assets under management,” that “total transaction volume has passed $45 billion,” and that there are “more than 550,000 unique holders worldwide.” Those are Payward’s figures. A parallel Payward/Deutsche Börse notice on the DAX 40 still carries older totals — more than 1,300 assets, over $1 billion of assets under management, and more than 500,000 holders — and those older totals are not used in this post.

Each xStock, both notices say, is backed 1:1 by the underlying share, held at a regulated custodian. Payward says the UK and EU tokens are the first expansion delivered under its partnership with GTN, which “handles global execution and custody of the traditional assets that underpin each token.” The xStocks news post adds that the new tokens are available on Kraken, Kraken Pro, participating xStocks Alliance partners and “10+ blockchains,” and that xStocks are available across “110+ markets.” Named examples include tokenised Rolls-Royce (RR.GBx), HSBC (HSBAx), Airbus (AIR.FRx), LVMH (MC.FRx) and SAP (SAPx).

They are not shares. The xStocks post is explicit that each token “represents economic exposure only, not direct ownership.” They are also not available to investors in the United Kingdom or to US persons. Payward says “distribution and eligibility are unchanged by today’s expansion, and xStocks continue to be unavailable to investors in the United Kingdom.” The legal footnotes on both Payward releases repeat that the tokens are not available in the US or to US persons, and that other geographic restrictions apply. xStocks are issued by Backed Assets (JE) Limited, a Jersey company, and offered to eligible Kraken customers via Payward Digital Solutions Ltd, with EEA investment services provided by Payward Europe Digital Solutions (CY) Limited.

A London listing is planned, not approved, and Hong Kong is next

Payward said the UK and EU wave “delivers on plans to tokenize the top 100 London-listed equities as xStocks.” Separately, “in 2027, subject to regulatory approval, the London Stock Exchange intends to list xStocks and start trading them on LSE 24.” That is an intention of the exchange, conditional on approval, not a listing that has been granted. Payward also said “hundreds of publicly traded Hong Kong-listed equities will follow in the coming weeks, with further international markets after that.”

Mark Greenberg, Payward’s chief commercial officer, said: “Access to capital markets is still drawn on a map, and it still depends on holding the right passport.” He added that Payward is “building toward a single global market where any listed company can be held by any investor,” and that “over 200 UK and European listings onchain today is proof it works.” Ankit Shah, global head of fintech at GTN, said the firms were “bringing UK- and EU-listed equities to a broader global audience.” Those are vendor statements about access. They sit alongside the same releases’ residual bans on UK and US persons, which have not been lifted by this expansion.

Deutsche Börse’s notice is narrower and should be read as a venue story. Carlo Koelzer, head of digital asset and FX at Deutsche Börse Group, called the Payward partnership part of a “unified hybrid exchange ecosystem.” The group said the DAX 40 tokens are immediately available on 360X, and that Xetra-Gold is also opening onchain distribution as an xStock. Trading hours, it notes, vary by venue; on Kraken in the EEA, xStocks trade 24/5.

Tokenised UK shares still exclude UK persons, and the tokens are not ownership

The opening of UK and EU names is a genuine widening of the xStocks roster, but two limits in the same notices matter more than the headcount. First, a tokenised Rolls-Royce or HSBC instrument is still unavailable to investors in the UK, and still unavailable to US persons. The product can point at London-listed companies without being a London-accessible product. The LSE 24 plan, if approved, would be a different legal step from today’s over-the-counter style distribution through Kraken and alliance venues. Until that approval exists, it should be left as a 2027 intention.

Second, 1:1 backing does not make the holder a shareholder. Payward and xStocks both describe economic or price exposure, with the underlying share held by a custodian. That is the same distinction TSN has already had to keep clean on this beat. When OKX listed unified tokenized stocks powered by xStocks, the exchange’s own notice said the instruments were not company ownership and were not for US persons. Issuer objections have also been part of the record: OKXICE tokenised-stock objections had reached 50 issuers by 30 October, a reminder that some listed companies have pushed back on tokenised versions of their shares. ARK’s latest tokenised-assets snapshot had already put stock tokens among the faster-growing parts of that market; those figures remain ARK’s, and Payward’s 11 November totals are a separate, company-reported stock-take. The nearer infrastructure comparison is the NYSE affiliate’s choice of Avalanche for a tokenised ATS ledger, another attempt to put equity-like instruments onto an onchain venue, under a different design and a different regulator.

None of this is investment advice, and none of the 11 November notices is a change to the residual regional bans. The facts to watch are ordinary. If the London Stock Exchange later obtains the approval it says it will need for an LSE 24 listing, or if Payward’s promised Hong Kong wave actually appears, that would widen the story. Until then, xStocks has added 200+ UK and EU names, including the DAX 40 on 360X, on Payward’s figures past 1,500 assets, over $1.1 billion of assets under management, $45 billion of volume and more than 550,000 holders, as tokens that give price exposure rather than share ownership, and that remain closed to UK investors and to US persons.

Sources

Payward, “xStocks Broadens Suite of Tokenized Assets, Bringing Hundreds of UK and EU-Listed Equities Onchain,” 11 November 2026. https://www.payward.com/press-release/xstocks-uk-eu-equities
xStocks, “xStocks Brings 200+ of the UK and EU’s Largest Companies Onchain,” 11 November 2026. https://xstocks.fi/us/news/xstocks-brings-200-of-the-uk-and-eus-largest-companies-onchain
Deutsche Börse Group, “Deutsche Börse Group Offers 24/7 Global Trading for Tokenized DAX 40 Equities on 360X,” 11 November 2026. https://www.deutsche-boerse.com/dbg-en/media/news-stories/press-releases/Deutsche-B-rse-Group-Offers-24-7-Global-Trading-for-Tokenized-DAX-40-Equities-on-360X-5742594
Payward, “xStocks Brings the DAX 40 Onchain, Opening Germany’s Largest Listed Companies to 24/7 Global Trading,” 11 November 2026 (older 1,300 / $1 billion / 500,000 figures in this notice are not used above). https://www.payward.com/press-release/xstocks-dax-40