Payward Services Unveils Tokenized IPO Program for Retail Investors

Payward Services, a company affiliated with cryptocurrency exchange Kraken, has introduced a tokenized IPO program aimed at providing retail investors with access to US-listed shares at the offering price. This initiative marks another step in the expansion of regulated financial markets for cryptocurrencies.

The program allows customers of Kraken and selected members of xStocks Alliance to register interest in upcoming US-listed IPOs before companies begin trading on public markets. Eligible investors who receive allocations will obtain tokenized shares on listing day at the IPO offering price, backed 1:1 by the underlying stock.

Payward Services has partnered with regulated entities to hold the underlying stocks in custody, ensuring that retail investors have access to allocations traditionally available mainly to institutional clients and high-net-worth investors. The company estimates that the first tokenized IPO opportunities will become available within weeks, with additional launch partners and markets expected to join over time.