Nasdaq Dumps $100M into Payward, Crypto Exchange Parent
Nasdaq has made a significant move into the world of crypto and blockchain by investing $100 million in Payward, the parent company of Kraken. The investment is part of Nasdaq's mandate to back technology and market infrastructure that supports the long-term evolution of global capital markets.
The two companies will be working together on a project called Nasdaq Equity Tokens (NETs), which aims to launch in the second quarter of 2027. This project involves tokenizing equities, allowing for more efficient and seamless movement of capital and assets across the financial system.
Nasdaq's President, Tal Cohen, said that 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.