Nasdaq Invests $100M in Payward, Valuing Firm at $21B

Nasdaq has poured $100 million into Payward as part of its tokenization expansion, valuing the firm at $21 billion. This deal is one of several major investments in the crypto industry by exchange operators.

The investment comes from Nasdaq's strategic arm, and builds on a partnership agreement between the two companies that dates back to March 2026.

Nasdaq will also apply its market surveillance technology across all trading activities at Payward, including crypto, equities, tokenized equities, futures, and options.