Kraken parent Payward brings tokenized IPO access to retail investors
Summary
Payward Services, a Kraken-affiliated company, plans to let retail investors access US IPOs at the offering price through tokenized shares. Customers of Kraken and select xStocks Alliance members will be able to submit non-binding interest before an IPO, with demand aggregated and allocations finalized with the underwriting syndicate. On listing day, eligible investors will receive tokenized shares backed 1:1 by custody-held stock, giving access without a traditional brokerage account. The first offerings are expected in coming weeks, with more partners and markets to follow. The move aims to expand IPO access globally and fits the wider trend of real-world asset tokenization.
