Payward Services, the infrastructure platform behind Kraken, rolled out pre-IPO access to Bending Spoons S.p.A (BSP) through its xStocks offering. Eligible Kraken customers and users of Telegram's Wallet feature can now submit non-binding indications of interest in the Italian technology company, which owns WeTransfer, Evernote, Vimeo, AOL, and Eventbrite.
The move extends access across xStocks Alliance partners operating in over 110 countries, including the European Economic Area. Payward Services framed the launch as part of its broader effort to tokenize private equity access and bring early-stage investment opportunities to retail participants.
Bending Spoons has pursued an aggressive acquisition strategy in recent years, consolidating a portfolio of legacy software brands. The company has signaled intent to pursue public markets, though no formal listing date has been confirmed.
The xStocks mechanism converts pre-IPO equity into a tradeable instrument, theoretically letting retail crypto users gain exposure to private company stakes before a traditional IPO. The registration itself carries no binding obligation, meaning participants are simply indicating preliminary interest.
This sits within a broader pattern of crypto platforms leveraging tokenization infrastructure to access traditional finance verticals. Whether retail demand for pre-IPO exposure through crypto rails translates into material transaction volume remains an open question. The regulatory framework governing such offerings across multiple jurisdictions also remains unsettled.