Nasdaq Invests $100M in Payward at Record-Breaking Valuation

Nasdaq Ventures has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken. The investment values Payward at a whopping $21 billion, making it one of the most valuable companies in the crypto space.

The partnership between Nasdaq and Payward will see the launch of Nasdaq Equity Tokens on Kraken's platform from the second quarter of 2027. These tokens are blockchain-based versions of Nasdaq-listed shares that carry shareholder voting rights, setting them apart from existing tokenized stocks.

Nasdaq President Tal Cohen sees this as a key step in defining the next phase of markets: 'how efficiently and seamlessly capital and assets move across the financial system with durable liquidity.'