The London Stock Exchange Group is preparing to move to a 24/5 trading cycle in the first half of 2027, build a digital securities depository, issue tokenized equity products, and connect the whole system to crypto exchange Kraken and banking giant HSBC — one of the most comprehensive blockchain plans ever announced by a major traditional exchange group.
By Keisha Williams | September 18, 2026
The plans were outlined by Darko Hajdukovic of London Stock Exchange Group (LSEG) during a panel on institutional digital-market infrastructure at the European Blockchain Convention in Barcelona, and reported by crypto.news. For everyday investors, the significance is straightforward: one of the world’s oldest stock exchange operators is redesigning its core plumbing around technology that crypto users have relied on for years.
The Hook: Four Projects, One Vision
Hajdukovic laid out the roadmap in a single quote: “In the first half of next year we move to a 24/5 trading cycle, LSEG24. We’re building a digital securities depository, partnering with Kraken to list on it, and building tokenised equity tokens. We’ve also signed an MOU with HSBC on an interoperable link.”
That is four separate workstreams at once:
- LSEG24 — a move to around-the-clock, five-day-a-week trading starting in the first half of 2027.
- A digital securities depository — think of it as a modern, blockchain-friendly version of the vaults where records of who owns what are kept.
- Tokenized equities — shares represented as digital tokens that can move and settle almost instantly.
- HSBC interoperability link — a bridge connecting LSEG’s system to one of the world’s largest banks.
Why a Crypto Exchange Is in the Picture
The partnership with Kraken is arguably the most striking detail. A crypto-native platform could be brought directly into the listing process for LSEG’s digital securities — a level of integration between traditional finance and the crypto industry that would have been unthinkable a few years ago. Kraken has already moved beyond simple stock-token trading: in September it introduced xStocks yield vaults tied to products including the SPDR S&P 500 ETF Trust, Invesco QQQ Trust and Nvidia, letting customers deposit tokenized stocks and earn returns through automated strategies, with a 25% performance fee deducted before displaying the estimated yield.
Ownership structure is the part investors should watch closely. A blockchain token does not automatically come with voting rights, dividends, or a legal claim on the company. What matters is whether a token represents the actual security, a beneficial interest held through a custodian, or merely a price-tracking synthetic. Coinbase CEO Brian Armstrong has argued tokenized stocks should hold real securities rather than operate as synthetic trackers; Coinbase introduced Base-native tokens linked to Apple, Nvidia, Meta and Alphabet for eligible non-U.S. customers in August. LSEG has not yet said which legal model its tokenized equities will use, or which blockchain will support them.
The Core Conflict: 24/5 Trading Meets 9-to-5 Money
Extended trading hours create a hidden problem: the banking system does not stay open with the market. Securities may trade at night or on weekends while the traditional rails used to move cash remain closed — a funding gap that has already caused liquidity pressure in always-open tokenized markets. LSEG launched its Digital Settlement House earlier in 2026 to address exactly this, supporting 24/7 transfers of commercial bank money, securities and digital assets with synchronized settlement that shrinks the window in which one party can be left holding the bag.
On the same Barcelona panel, Nadine Teychenne of Citi highlighted the appeal of blockchain infrastructure for institutions: a real-time, always-on “single source of truth” plus programmable assets, which she said is already visible in tokenized money market funds. Citi has worked on blockchain systems since 2015, she noted, and is already moving client money through live internal tokenized deposits.
Market Implications: What This Means for You
The news comes as U.S. exchanges and regulators are also examining longer trading hours and tokenized securities, meaning investors on both sides of the Atlantic could soon see stocks that trade almost as continuously as crypto does. The convenience is real — no more waiting for the opening bell to react to overnight news — but so are the risks: thinner liquidity outside peak hours, and token products whose fine print determines whether you truly own a piece of the company.
The Verdict
LSEG’s announcement is a blueprint, not a finished product — the first half of 2027 is still months away, and details like the underlying blockchain and the legal structure of the tokens remain open questions. But the direction is unmistakable. The infrastructure that powers crypto is steadily becoming the infrastructure that powers Wall Street and the City of London. For crypto investors, that is quiet validation; for stock investors, it is a preview of how markets will feel within a few years.
The cryptocurrency market remains highly volatile. This article is for informational purposes only and does not constitute financial advice.
24/5 trading from the LSE while US exchanges still close at 4pm eastern. Wild that the oldest exchange in the game is moving first on tokenised equities.
@0xkelpie 24/5 is a weird half step though. Crypto settles around the clock, why keep weekends closed? Feels like a compromise for the clearing banks more than traders.
Hajdukovic more or less admitted it at the panel, settlement and back office need the maintenance window. weekends come once custody is fully tokenized, this is the migration path
Kraken listing on an LSE digital securities depository is the line i keep rereading. a crypto native venue inside traditional plumbing, wild timeline we are on
24/5 not 24/7. so close to getting it then they kept the weekend off. still, LSEG building a depository with Kraken listing on it is a bigger deal than people think
24/5 makes sense tbh, you need a window for settlement and maintenance. full 24/7 equities would break every back office on the street
exactly. the 24/7 crowd has never watched a reconciliation file bounce at 6am on a monday. keep the weekend, tokenize the custody first
I remember when the LSE could barely keep its own trading platform running through a normal session without an outage. Now they promise tokenized equities by 2027. Skeptical but I hope Hajdukovic pulls it off.
The HSBC MOU is the sleeper detail here. An interoperable link between a digital securities depository and a global bank dwarfs the Kraken listing in importance, yet everyone is talking about the exchange.
The HSBC link is the sleeper, agreed. No custody rail means no institutional tokenized equity, and Kraken retail flow settling on LSE plumbing in 2027 is the part that breaks old-line broker brains.
the Kraken rail is what nobody prices in either. retail onramp straight into an LSE depository means the listing venue starts mattering less than the plumbing itself
Hajdukovic said first half of 2027 for the 24/5 cycle. color me shocked if the depository and the Kraken link actually go live in the same window