Kraken’s parent company Payward is preparing to expand tokenized equity access into the IPO market. The plan is to let retail investors participate in U.S. IPOs through tokenized shares at the same offering price typically reserved for institutional investors. Under the proposed system: ➜ IPO allocations would be gathered across participating platforms ➜ Shares would later be tokenized onchain ➜ And each token would reportedly remain backed 1:1 by the underlying stock held in custody The initiative is part of a broader push around tokenization and blockchain-based capital markets infrastructure. Traditionally, early IPO access has mostly been limited to large institutions, private banks and high-net-worth clients. Projects like this are trying to make that process more accessible through digital asset rails. The timing is also notable as interest continues building around potential future IPO candidates tied to AI and tech sectors. Tokenized equities remain an evolving area with regulatory, liquidity and market structure risks still being watched closely.