Nasdaq Invests $100M in Payward, Parent Company of Kraken

Nasdaq has invested $100 million in Payward, the parent company of Kraken. This investment brings Payward's valuation to $21 billion and is part of Nasdaq's strategy to develop infrastructure for a tokenized stock market, estimated to be worth several hundred billion dollars.

The agreement allows Kraken to offer Nasdaq's tokenized stocks in the form of tokens, providing the same voting rights as traditional shares. This partnership may also indicate that Nasdaq is preparing to launch its Nasdaq Equity Tokens (NET), which would enable the creation of replicas of traditional stocks on the blockchain.

The investment revives the possibility of Kraken's initial public offering (IPO), initially postponed in March due to unfavorable market conditions.