Tokenized stocks expand as Nasdaq raises SEC concerns
Kraken parent Payward added 200+ tokenized UK and European stocks via xStocks, while Nasdaq has reportedly raised concerns about the SEC's approach to tokenized securities.
What we know
The Block reports Payward launched more than 200 tokenized UK and European stocks through xStocks, taking its total to over 1,500 assets, with Hong Kong-listed stocks next. Cointelegraph reported that Nasdaq raised concerns over the SEC's approach, with a commentator noting the issue is fungibility with the existing market. Separately, a market news account reports Deutsche Bank has rolled out crypto custody, unconfirmed here.
How the story developed
Kraken parent Payward added 200+ tokenized UK and European stocks via xStocks, while Nasdaq has reportedly raised concerns about the SEC's approach to tokenized securities.
Nasdaq has reportedly told the SEC that tokenized stocks must be interoperable and fungible with existing markets, to avoid one share trading at different prices in isolated pools.
Sources
“launched more than 200 tokenized UK and European stocks through xStocks”
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“its sec letter asks for interoperability and fungibility”
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