Nasdaq Invests $100M in Payward, Valuing Company at $21 Billion

Nasdaq has made a significant move in the cryptocurrency market by investing $100 million in Payward, the parent company of Kraken, at a valuation of $21 billion. This investment is part of an ongoing strategic partnership between Nasdaq and Payward that began in March 2026.

The funding will be used to enhance market infrastructure for trading and custody, with a focus on creating infrastructure for tokenized equities. The collaboration aims to support tokenized equity trading, settlement, and custody, which could lead to innovative solutions in the trading and settlement processes.

This investment is a significant boost to Kraken's future prospects, as it provides the necessary resources to enhance its offerings and attract more users. As the cryptocurrency market evolves, Nasdaq's interest in Payward highlights a growing trend of investing in cryptocurrency infrastructure.