Nasdaq Invests $100M in Kraken Parent, Valuing it at $21B

Nasdaq has made a significant investment in Payward, the parent company of cryptocurrency exchange Kraken. The New York electronic bourse's venture arm invested $100 million in Payward as part of its expansion into tokenized assets.

As a result of this deal, Kraken will offer tokenized versions of Nasdaq-listed stocks on its own platform. This is the latest development in Nasdaq's partnership with Payward, which was announced in March.

The investment valued Kraken's parent company at $21 billion, according to people familiar with the matter who spoke to Bloomberg. This deal comes a month after Nasdaq shared plans to acquire Level Markets as part of its push into 'always-on' markets.