Nasdaq Invests $100M in Kraken Parent to Launch Tokenized Stocks
Nasdaq has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken. This investment values Payward at $21 billion, according to Bloomberg.
The partnership between Nasdaq and Payward aims to launch tokenized equities by the second quarter of 2027. The firms plan to develop infrastructure for the distribution and trading of digital representations of publicly traded securities on blockchain networks.
As part of the agreement, Payward will adopt Nasdaq's market-surveillance technology across its trading venues, including cryptocurrency and tokenized-equity markets. This move comes as Kraken expands beyond digital assets into stocks, derivatives, and other traditional financial products.
The initiative reflects growing interest among financial institutions in blockchain-based securities. Nasdaq believes this could help create a more connected financial system while maintaining market transparency and integrity.