Nasdaq Drops $100 Million into Kraken Parent for Tokenization Push
Nasdaq has taken a significant step in its push to deepen tokenization by investing $100 million in Payward, the parent company of cryptocurrency exchange Kraken. This investment is part of an ongoing partnership aimed at developing infrastructure for trading tokenized equities.
The collaboration between Nasdaq and Payward aims to build infrastructure that allows tokenized assets to trade and settle outside conventional market hours while maintaining regulatory compliance and market safeguards. The companies expect to launch Nasdaq Equity Tokens (NETs) on Payward's xStocks platform in the second quarter of 2027.
Nasdaq said its tokens are designed to preserve the fundamental principles and benefits of regulated market infrastructure, ensuring investor transparency, market integrity, and liquidity. Arjun Sethi, Co-CEO of Payward, noted that the next phase of the collaboration will advance Nasdaq Equity Tokens onto rails that do not close, with shareholder rights intact.