Payward, the parent company of cryptocurrency exchange Kraken, is changing its approach to how holders of tokenized equities can participate in corporate governance.
While xStocks holders previously had no voting rights for the underlying shares, a collaboration with Broadridge will now allow eligible investors to submit proxy voting preferences, according to a Wednesday release.
"The endgame for tokenization was never just building faster programmable capital markets.
It's about giving people across the world everything that comes with owning a piece of a company, including a voice in how it's run," Payward Chief Commercial Officer Mark Greenberg said.
"Working with Broadridge is a step in that direction, unlocking opportunities for xStocks holders to participate in corporate governance, while closing the gap between tokenized equities and traditional shares." Issued by Backed, xStocks are tokenized equities available to eligible investors outside the U.S.
