Nasdaq Invests Big in Blockchain Pioneer Payward

Nasdaq is investing $100 million in Payward, which has a valuation of $21 billion. This investment comes as part of an expanding partnership between Nasdaq and Payward, announced in March 2026.

The project, based on xStocks technology developed by Kraken, aims to link regulated markets for tokenized shares with decentralized blockchain networks. The volume of xStocks transactions exceeded $25 billion by March, with over $4 billion conducted directly on the blockchain.

Nasdaq is developing its own approach to share tokenization, focusing on preserving issuers' control and complying with current regulatory requirements. This infrastructure is expected to launch in the first half of 2027.