Nasdaq Invests Big in Kraken Parent

Nasdaq has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken. The investment values Payward at $21 billion and marks a significant step for Nasdaq's involvement in the digital-asset sector.

The deal underscores the growing importance of crypto market infrastructure to established financial institutions. Payward operates several layers of infrastructure connected to cryptocurrency markets, including trading services, custody solutions, and payment-related capabilities.

Nasdaq's investment could provide Payward with additional resources to strengthen its infrastructure and expand its presence across the digital-asset ecosystem. The company's connection to Kraken also gives the investment exposure to one of the established names in the cryptocurrency exchange market.