Image Credit: payward.com
- Payward announced its xStocks framework surpassed $1 billion in assets under management.
- The growth follows an expansion into tokenized exposure for several international markets.
- The product remains unavailable in the United States and the United Kingdom.
On Oct. 28, Payward declared that its xStocks tokenized-equities framework surpassed $1 billion in assets under management, more than quadrupling its approximately $225 million February total. The growth accompanies an expansion from U.S. equities into tokenized exposure to stocks and funds across several international markets.
Assets Grow Alongside Trading Activity
The $1 billion threshold was reached as of Oct. 27. The company separately reported more than $45 billion in cumulative transaction volume and over 550,000 holders globally.
Assets under management measure the value represented by outstanding products; cumulative volume includes repeated trading over time. The volume figure therefore does not represent the amount investors currently hold.
Payward also reported more than $100 million in xStocks deployed across decentralized-finance applications. That figure concerns tokens used in those applications rather than an additional amount to add to the headline assets total.
Product Range Expands Beyond US Equities
xStocks launched in June 2025 with 60 tokenized U.S.-listed stocks and exchange-traded funds on Solana. Its range now includes more than 1,500 tokenized representations spanning stocks, ETFs and initial-public-offering exposure across several markets.
The framework states that it covers assets listed in the United States, United Kingdom, Europe, and Hong Kong. Product coverage does not establish investor eligibility in those markets: xStocks remains unavailable in the United States, to U.S. people and in the United Kingdom.
The token is fully collaterallized, one-to-one-backed representations of underlying assets. They can move between supported exchanges, self-custodied wallets and blockchain applications, subject to applicable restrictions.
Shareholder Rights Differ From Dividend Treatment
Backed Assets (JE) Limited issues xStocks. Eligible EEA customers access them through Payward Europe Digital Solutions (CY) Ltd., a Cyprus investment firm authorized by CySEC.
The tokens do not confer shareholder or voting rights. Kraken clears that the dividends on underlying assets are reinvested, net of applicable taxes, and reflected in holders’ adjusted balances rather than paid as separate cash distributions. This passes on the economic benefit without granting direct shareholder rights.
Using xStocks in third-party lending or yield applications introduces additional risks. Payward identifies smart-contract failure and forced liquidation among them, with potential losses extending to some or all of the investment.
