Payward Services has opened non-binding indications of interest for Ōura’s expected IPO through the xStocks ecosystem. Eligible Kraken users and customers of xStocks Alliance partners in more than 110 countries can register interest before the Nasdaq listing. On listing day, Payward says Ōura exposure is expected to become available as the tokenized ŌURAx product, subject to eligibility and the IPO proceeding. **ID:** B25-06 **Site:** Bitcoinist **Status:** READY **Author:** Bitcoinist Editorial Team **Focus Keyword:** Oura **Image Keyword:** Tokenization **Category:** Technology **Tags:** Oura, Kraken, xStocks, IPO, Tokenization **Primary Source:** https://www.businesswire.com/ The Pre-IPO Step Is An Indication Of Interest Eligible users can register a non-binding indication of interest ahead of Ōura’s planned Nasdaq listing. That wording is important. Registering does not guarantee an allocation, and users are not buying Ōura shares simply by submitting interest through Kraken or another xStocks Alliance platform. If the IPO proceeds, Payward says Ōura will become the fourth company to move through its IPO Access pipeline this year. The previous offerings covered SpaceX, Bending Spoons and Jersey Mike’s. Eligible users in more than 110 countries can participate through Kraken and other supported xStocks partners. The Tokenized Product Comes After The Listing Payward says Ōura will be tokenized as ŌURAx on listing day. That would turn the newly public stock into an xStocks product designed for round-the-clock blockchain-based trading. The model extends what crypto exchanges have been doing with existing public stocks into the IPO process itself. Instead of waiting for shares to begin trading and then creating tokenized exposure later, Payward is trying to connect the pre-IPO allocation process directly with the tokenized secondary market. There are still several layers of eligibility and regulation involved. An xStock is not the same thing as directly holding a conventional brokerage share, and tokenized equities are unavailable in a number of jurisdictions. The pre-IPO indication is also explicitly non-binding. Still, the product shows how quickly the line between crypto exchanges and conventional brokerage infrastructure is disappearing. Kraken increasingly wants users to access crypto, tokenized stocks and now IPO-linked products through the same broader ecosystem. If Ōura completes its listing as planned, the transition from private-company exposure to a tokenized public-market instrument could happen almost immediately. *This article was written by the News Desk and edited by [Samuel Rae](https://bitcoinist.com/author/samuelrae/).*
