Nasdaq Invests $100 Million in Kraken Parent Company Payward

Nasdaq has deepened its ties with Kraken's parent company Payward by agreeing to invest $100 million in the firm. The investment will also see Payward adopt Nasdaq's market-surveillance technology across its trading businesses.

The deal adds capital and market-integrity infrastructure to an existing partnership focused on tokenized equities. It also expands the relationship beyond the planned distribution and settlement framework for Nasdaq Equity Tokens, or NETs.

Payward will deploy Nasdaq's surveillance tools across a portfolio of trading venues that includes crypto, equities, tokenized equities, futures, and options.