Nasdaq Backs Kraken Parent with $100m Investment in Tokenization Push
Nasdaq Ventures has made a significant investment in Payward, the parent company of Kraken. The $100 million injection is part of an expanded relationship between the two companies, which includes continued development of the Nasdaq Equity Token framework.
The partnership aims to launch Nasdaq Equity Tokens in the second quarter of 2027 and will see Payward adopt Nasdaq's surveillance technology across its trading venues. This collaboration has already shown promising results, with onchain settlement reportedly releasing $3 billion in 2024 by reducing trade wait times from two days to one.
Tal Cohen, President of Nasdaq, emphasized the importance of efficient capital movement, stating 'The next era of market evolution will be defined by how efficiently and seamlessly capital and assets move across the financial system with durable liquidity.'