Kraken to Open Global Retail Access to US Stock IPO Pricing through xStocks

BlockBeats News, June 3rd, Payward, the parent company of Kraken, announced that it will open a channel for Kraken users and some partner platform users to subscribe to U.S. public company IPOs at the IPO price through the xStocks framework in the coming weeks. Users can submit non-binding subscription intentions before the listing. Payward will aggregate the demand and coordinate with the underwriting syndicate to finally allocate tokenized stock shares at the IPO price on the listing day. The related stock tokens are backed 1:1 by the underlying regulated stocks and can circulate on blockchains such as Ethereum, Solana, and TON.