Payward Services Opens Tokenized IPOs to Global Retail
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- Payward Services announced that tokenized shares of upcoming US IPOs will be distributed via partner exchanges, giving retail investors access without traditional brokerage accounts.
- xStocks processed over $30 billion in transaction volume in its first year, including more than $6 billion settled on‑chain, and serves over 125,000 holders globally.
- Mark Greenberg, global head of Payward Services, said the new tokenized IPO offering will let retail investors in Medellín, Madrid, or Malaysia buy US‑listed IPOs at the IPO price.
- Backed Finance was acquired by Kraken in late 2025, giving Kraken control of the xStocks infrastructure used for the tokenized IPOs.
- Bernstein Research estimates the real‑world‑asset (RWA) market grew 42 % this year to $51 billion, underscoring rising interest in tokenized assets.
Why it matters: Retail investors in markets like Medellín, Madrid and Malaysia gain direct access to US IPO prices, while traditional brokers risk losing a slice of the $30 billion xStocks transaction flow. The tokenized model expands participation and on‑chain settlement.
