Payward has partnered with the London Stock Exchange to tokenize the 100 largest companies listed on the London Stock Exchange as xStocks. Each token is backed 1:1 by a publicly traded share and tracks the performance of the underlying security. The tokens can move between centralized exchanges, self-custody wallets, and onchain applications, supporting round-the-clock trading. Investors in more than 110 countries will be able to access the tokenized shares, although they are not currently available to UK-based investors. Pending regulatory approval, the London Stock Exchange plans to list xStocks on LSE 24, its recently announced 24-hour trading venue. The companies are also exploring native equity tokens issued directly onchain with identical rights and fungibility to traditional shares. Payward Co-CEO Arjun Sethi said the partnership reflects a shift away from the idea that crypto and traditional finance must compete. “The real opportunity is what happens when they run on the same rails,” he said. “Bringing London-listed companies onchain as xStocks is the start of that.” LSE CEO Julia Hoggett said tokenization must develop in a way that preserves “the trust, rights and role of regulated markets.” Payward says xStocks have already surpassed $40 billion in total volume, including more than $20 billion settled onchain, across more than 200,000 holders. The announcement drew attention across crypto-focused circles on X, where commentators framed the deal as part of a wider move toward always-on capital markets.