Nasdaq Injects $100M into Kraken Parent Payward for Tokenized Stocks Push

Nasdaq has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken, as part of a deal that values the company at $21 billion. The investment is tied to plans for tokenized stocks infrastructure and will allow Kraken to offer Nasdaq's tokenized stocks as blockchain-based tokens.

The partnership could signal preparation for Nasdaq Equity Tokens (NET), a product that would allow traditional shares to be mirrored on blockchain rails. However, no launch timeline or formal rollout details have been disclosed.

The deal combines a major traditional market operator with one of crypto's largest exchange groups around tokenized equities, a segment widely viewed as a key bridge between conventional finance and blockchain infrastructure.