Payward, the parent company of Kraken, said it is working with Broadridge to let eligible xStocks holders submit proxy voting instructions tied to the underlying stocks. The move changes the product’s earlier structure, under which xStocks did not carry voting rights. Issued by Backed, xStocks are available only to qualified investors outside the United States and the United Kingdom. The range of supported assets has already been extended to Hong Kong-listed stocks through a partnership with fintech infrastructure provider GTN, and the company said future expansion is planned for the UK, Europe, South Korea and other markets. Broadridge will provide digital asset infrastructure for the product, including proxy voting, post-trade services, wallets and custody.
Payward, Kraken’s parent company, said it has partnered with Broadridge to allow eligible xStocks holders to submit proxy voting instructions for the stocks tied to their holdings, changing the earlier setup under which xStocks did not include voting rights.
xStocks are issued by Backed and are available only to qualified investors outside the United States and the United Kingdom. The product’s list of supported underlying assets has already been expanded to include Hong Kong-listed stocks through a partnership with fintech infrastructure provider GTN.
Payward also said the product is planned to expand into the UK, Europe, South Korea and other markets. Broadridge will provide digital asset infrastructure support for xStocks, covering proxy voting, post-trade services, wallets and custody.
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