Deutsche Börse Group Brings Tokenized DAX 40 Equities to 360X for 24/7 Global Trading

Deutsche Börse Group has expanded its partnership with Payward to bring tokenized shares of all 40 DAX constituents to 360X. The launch lets investors in more than 110 markets in Germany's largest listed companies through onchain trading. The expansion uses xStocks, a tokenized equities framework developed by Payward. Also, it extends the availability of tokenized UK- and EU-listed equities. It gives digital-native investors another way to access traditional financial markets.

40 DAX Companies Onchain

The launch introduces tokenized representations of all 40 companies in Germany's benchmark DAX 40 index. These companies are among the largest blue-chip businesses listed on the Frankfurt Stock Exchange. Now, investors can trade tokenized versions of companies such as SAP (SAPx), Siemens (SIEx), Allianz (ALV.DEx) and Deutsche Telekom (DTE.DEx), alongside the other DAX constituents.

Each xStock has 1:1 backing from its underlying share. A regulated custodian holds it. Also, investors can trade these tokens 24/7 on selected venues. The expansion gives investors in more than 110 markets to German equities. It creates another distribution channel for German companies to reach global onchain investors.

Tokenized Asset Offering

Now, Tokenized DAX 40 equities are available on 360X, an affiliated company of Deutsche Börse Group. The platform offers Xetra-Gold as an xStock. Xetra-Gold adds Europe's largest gold security, backed by physical gold, to the platform's onchain offering. This expansion extends access to traditional assets for digital-native investors with the tokenized DAX 40 equities. 360X operates under the EU's DLT Pilot Regime and has offered xStocks since February 2026.

Executives Highlights

Mark Greenberg, Chief Commercial Officer at Payward, explained that the launch addresses the limited access many international investors have to German companies. He pointed out that investors in regions such as Southeast Asia and Latin America can hold tokenized shares of companies like Siemens and Allianz through their existing wallets. Also, he stressed the flexibility of 24/7 trading. Investors no longer need to depend on Frankfurt's traditional market hours to trade these tokenized equities.

Carlo Kölzer, Head of FX and Digital Asset at Deutsche Börse Group and Co-CEO of 360X, described the partnership as an important step in altering capital markets. He explained that Deutsche Börse Group strives to build a hybrid exchange ecosystem that connects traditional and tokenized assets. The goal is to support seamless onchain and offchain trading and combining centralised markets’ liquidity with interoperable settlement.

Expanding Partnership

Deutsche Börse Group and Payward have worked together on several initiatives since December 2025. Their vaster agreement blends regulated financial infrastructure with Payward's crypto-native expertise. Both companies will improve institutional access to digital assets and create a more seamless trading experience via this partnership.

Wrapping Up

The addition of all 40 DAX constituents to 360X is a step in tokenized traditional assets expansion. Deutsche Börse Group is extending access to German equities and enabling global investors to trade tokenized shares 24/7.

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