Nasdaq Invests $100M in Kraken Parent Company Payward
Nasdaq has deepened its ties with Kraken through a proposed $100 million investment in Payward, the parent company of the crypto exchange. The investment comes from Nasdaq Ventures and will provide capital to an existing partnership focused on tokenized equities.
The two companies have been working together on a project called Nasdaq Equity Tokens (NETs), which aims to bring tokenized equities to the market. As part of this agreement, Payward plans to adopt Nasdaq's market-surveillance technology across its trading businesses, including crypto, equities, tokenized equities, futures, and options.
This move is seen as a significant development in the world of finance and cryptocurrency, bringing together two major players in the industry. While details on the ownership percentage and governance rights for Nasdaq are not disclosed, this partnership has the potential to shape the future of tokenized equities and surveillance technology.