Nasdaq Injects $100M into Kraken Parent Payward, Sets Sights on Q2 2027 Token Launch
Nasdaq Ventures has agreed to invest $100 million in Payward, the parent company of Kraken. This investment values Payward at $21 billion and expands a partnership between the two companies that was first announced in March 2026.
The deal is part of Nasdaq's efforts to launch its Equity Token framework by the second quarter of 2027. The token will be a blockchain representation of a real listed share, with the same ticker, price, and investor rights as the ordinary share.
Payward Co-CEO Arjun Sethi highlighted the benefits of on-chain settlement, citing that it can reduce the wait time for trades and increase capital efficiency. He noted that cutting settlement from two days to one in 2024 released $3 billion.
The investment also includes a surveillance agreement, where Nasdaq's market surveillance technology will be deployed across crypto, equities, tokenized equities, futures, and options venues operated by Payward.