Payward Services, the B2B infrastructure platform from Payward, the company behind global crypto platform Kraken, today opened pre-IPO access to Bending Spoons S.p.A (BSP), the Italian technology company behind WeTransfer, Evernote, Vimeo, AOL and Eventbrite. Eligible customers of Kraken, Wallet in Telegram and other supporting xStocks Alliance partners in over 110 countries, including the European Economic Area, can now register a non-binding indication of interest to participate in the IPO process ahead of the Nasdaq listing. Bending Spoons is the second offering in a growing Pre-IPO Access pipeline made possible by Payward Services’ xStocks offering, following the debut tokenized SpaceX offering earlier this month.
For most retail investors outside the US, IPOs have been out of reach, with access gated by geography or wealth. They can usually only buy once a stock is trading openly, often well above the price institutions paid for their allocations. Payward Services’ xStocks infrastructure is built to change that, opening primary-market access to a global audience.
The indication of interest window opens on Kraken and other xStocks Alliance partners today. During the window before public listing, customers can indicate how much they wish to buy within Bending Spoons’ indicated price range. Funds associated with non-binding indications of interest are reserved, not charged, until the final allocation is secured and ready for distribution. Payward Services then aggregates demand across xStocks Alliance partners and works with an underwriting syndicate to secure an allocation of the underlying shares, which back the tokenized Bending Spoons asset (BSPx) 1:1 and will be distributed on the day of public listing. All allocation decisions rest with Bending Spoons and its underwriters, and pre-IPO access allocation is not guaranteed by Payward Services.
“For decades, the best IPOs were tilted in favor of those with the right address or the right bank. Pre-IPO Access via xStocks tears that down,” said Mark Greenberg, Global Head of Payward Services. “Whether you’re a first-time investor or a seasoned professional, you should have the opportunity to participate in the companies shaping the future. Bending Spoons is the next proof point that the playing field is becoming more level.”
Bending Spoons S.p.A. is a Milan-based technology company that acquires digital businesses and optimizes their operations with the aim of improving profitability. Its portfolio includes well-known consumer brands such as AOL, Evernote, Vimeo, Eventbrite, WeTransfer and StreamYard, spanning more than 50 products used by around 500 million people each month. The company has filed to go public on the Nasdaq Global Select Market under the ticker BSP.
Every xStock is backed 1:1 by the underlying share and held in custody by a regulated entity. Unlike traditional brokerage accounts, xStocks assets can move with the investor across participating xStocks Alliance platforms, be transferred on-chain, and integrate with compatible DeFi applications, helping create a capital market that is global, always-on, and accessible by design.
Payward Services will open more Pre-IPO Access offerings to xStocks Alliance members in the coming months. Geographic restrictions apply. To learn more about Pre-IPO access and Payward Services, visit https://www.payward.com/payward-services.