Nasdaq Backs Kraken's Parent to Launch Tokenized Equities
Nasdaq has announced a $100 million investment in Payward, the parent company of Kraken, to help launch tokenized equities. This move builds on their earlier pilot of Nasdaq Equity Tokens (NETs) and aims to create the backbone needed to issue and exchange tokenized stocks.
The goal is to launch tokenized equities by the second quarter of 2027. However, holders of these tokens do not obtain direct ownership of the underlying assets. Instead, they gain exposure to the market value of those assets without the associated rights or liabilities.
Nasdaq's president, Tal Cohen, emphasized the importance of this partnership, stating that it advances their work on Nasdaq Equity Tokens and helps build a more connected financial system while preserving trust, transparency, and integrity. This investment also reflects Nasdaq's conviction that Payward can play an important role in building the infrastructure needed to support this evolution.
This move is part of a broader Wall Street push to bring tokenized securities into the mainstream. By positioning for a future where company stock could live on blockchains, Nasdaq aims to enable faster trading and settlement, as well as continuous market operation.