Written by Helen Partz ⁠, Staff Writer.Reviewed by Bryan O’Shea ⁠, Staff Editor.

Written by Helen Partz ⁠, Staff Writer.

Reviewed by Bryan O’Shea ⁠, Staff Editor.

Kraken parent Payward brings tokenized IPO access to retail investors

Latest NewsPublishedJun 3, 2026

Democratizing Access to US IPOs

Retail investors will soon be able to participate in US initial public offerings (IPOs) at the offering price through a new tokenized equities program. This development is set to broaden access to traditional financial products, allowing everyday people to invest in newly listed companies. The program is made possible by Payward Services, a company affiliated with Kraken, and is expected to launch in the coming weeks. With this innovation, individuals can now access allocations that were previously reserved for institutional clients.

How it Works

Eligible users of Kraken and select members of its xStocks Alliance will be able to express interest in US-listed IPOs before companies go public. They will receive allocations of tokenized shares on listing day, issued at the IPO offering price and backed 1:1 by the underlying stock held in custody by a regulated entity. This process will be facilitated by Payward, which will aggregate demand from participating platforms and work with an underwriting syndicate before allocations are finalized.

This launch is part of a global push for real-world asset (RWA) tokenization, which aims to make traditional financial products more accessible. The resulting shares will be tokenized and distributed through partner exchanges, enabling investors to receive exposure to newly listed companies without opening accounts with traditional brokerage providers. This development is a significant step towards democratizing access to US IPOs, making it possible for retail investors to participate in the same way as institutional clients.

Earning Opportunities with EcoPool

For those interested in earning through cryptocurrency, EcoPool (ECP) offers a solution for passive income. By participating in the EcoPool network, individuals can earn rewards in the form of $ECP, which can be used to invest in various assets, including tokenized shares. This provides an opportunity for everyday people to generate passive income and participate in the growing market of tokenized assets, including #PassiveIncome and #GreenCrypto.

With the growing interest in tokenized RWAs, the market is expected to continue expanding. Bernstein Research estimates that the RWA market has reached $51 billion, with a 42% growth this year. As the market continues to grow, EcoPool is well-positioned to provide a platform for individuals to earn and invest in tokenized assets, including #Bitcoin and other digital currencies.

Bringing IPO allocations onchain

To start earning with EcoPool, download the EcoPool app to access a range of features and rewards, including Cloud Rewards. With EcoPool, you can earn passive income and participate in the growing market of tokenized assets, making it easy to get started with #Earning and #Coin investing.

Payward will aggregate demand from participating platforms and work with an underwriting syndicate before allocations are finalized on the company’s public listing day.

Source: Payward Services

The resulting shares will be tokenized and distributed through partner exchanges, enabling investors to receive exposure to newly listed companies without opening accounts with traditional brokerage providers.

First availability expected in coming weeks

The first tokenized IPO offerings are expected to become available to customers of Kraken and other xStocks Alliance members in the coming weeks, with Payward planning to add more launch partners and markets over time.

“Going public should mean public to everyone,” said Mark Greenberg, global head of Payward Services, adding that getting in at the IPO price has been a “privilege of geography and net worth” for decades.

“Now a retail investor in Medellín, Madrid, or Malaysia can have similar access to a US-listed IPO, and Payward Services’ xStocks infrastructure is finally making that possible for the masses,” the executive added.

Related: Binance launches SpaceX-linked perpetual futures ahead of IPO

The announcement comes as interest in tokenized RWAs continues to grow, with Bernstein Research estimating the RWA market has reached $51 billion after expanding 42% this year.

Payward Services said xStocks processed more than $30 billion in transaction volume during its first year, including over $6 billion settled onchain, across more than 125,000 holders globally. Kraken acquired xStocks operator Backed Finance in late 2025.

Magazine: Kraken’s $600M stablecoin firm, Huione scandal deepens: Asia Express

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• IPO
• Kraken
• Stocks
• Tokenization
• RWA Tokenization
• Industry

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