TechFlow News, June 3: According to The Block, Payward—the parent company of Kraken—announced that it will open access to pre-IPO subscription at the offering price for U.S. listed companies to Kraken users and select partner platform users in the coming weeks via its xStocks framework. Users may submit non-binding subscription intentions prior to listing; Payward will aggregate demand and coordinate with underwriting syndicates to allocate tokenized shares at the offering price on the listing date. These tokenized shares are backed 1:1 by the underlying equities held in custody by regulated entities and are tradable on blockchains including Ethereum, Solana, and TON. Payward stated that it plans to expand into additional markets and onboard more partners to the xStocks Alliance.
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