Kraken and Nasdaq Team Up for Tokenized Equity Gateway

Kraken parent Payward has partnered with Nasdaq to build an 'equities transformation gateway' that will connect regulated tokenized equity markets with permissionless blockchain networks. The new infrastructure layer is designed to power Nasdaq's planned issuer-sponsored equity token design, expected to go live in the first half of 2027.

The partnership will utilize Kraken's xStocks product, which has already processed over $25 billion in total transaction volume and settled more than $4 billion on-chain. The gateway aims to enable eligible users to move tokenized equities between regulated markets and open on-chain ecosystems.

Payward will handle Know Your Customer (KYC) and Anti-Money Laundering (AML) onboarding for participants accessing the bridge through Kraken, and serve as the primary settlement layer for transactions tied to Nasdaq's equity token design in jurisdictions where xStocks are already available.