Nasdaq Invests Big in Kraken Parent Company Payward

Nasdaq is investing $100 million in Payward, the parent company of cryptocurrency exchange Kraken. The investment values Payward at approximately $21 billion.

The move is part of Nasdaq's broader tokenization strategy, which aims to bring traditional equities onto blockchain infrastructure.

The partnership between Nasdaq and Payward will see the integration of Nasdaq's market surveillance technology across its various venues, including crypto, equities, and tokenized-equity markets.

Prior to this investment, Deutsche Börse had invested $200 million in Payward in April. This deal signals that major financial institutions are increasingly viewing tokenized assets as part of the future market structure rather than a niche experiment.