Overview
- Kraken will distribute one‑to‑one tokenized versions of listed stocks and ETFs to customers outside the United States, with an initial focus on Europe.
- Each token is designed to carry the same shareholder rights as the underlying security, with settlement linked through DTCC to keep tokenized and traditional shares interchangeable.
- Nasdaq says the framework will automate corporate actions such as dividend payments and proxy voting using blockchain rails.
- The gateway will run on Payward’s xStocks infrastructure, which Kraken reports has processed more than $25 billion in volume, including about $4 billion settled on‑chain.
- Nasdaq’s plan builds on a 2025 SEC filing to permit tokenized securities to trade alongside conventional shares, and the companies say launch remains contingent on regulatory reviews targeting early 2027.