[Kraken to Open U.S. Stock IPO Subscription Channel at Issue Price] According to The Block, Kraken's parent company Payward announced that in the coming weeks, it will open a subscription channel for U.S. listed company IPOs at issue price through the xStocks framework for Kraken users and users of select partner platforms. Users can submit non-binding subscription intentions, which Payward will aggregate and coordinate with the underwriting syndicate to allocate tokenized stock shares at the issue price on the listing day. The related stock tokens are backed 1:1 by underlying stocks held by a regulated entity and can circulate on chains such as Ethereum, Solana, and TON. Payward plans to expand into more markets and add more xStocks Alliance partners.