Crypto
Nasdaq Invests Big in Tokenized Equities
Nasdaq Ventures has agreed to invest $100 million in Payward, the parent company of Kraken. This deal aims to push Nasdaq Equity Tokens onto blockchain rails by 2027.
The investment is part of a broader plan to build out the Nasdaq Equity Token (NET) framework. The goal is to create a market design that prioritizes issuers and keeps shareholder rights intact.
Payward's Co-CEO, Arjun Sethi, noted that traditional clearing houses can slow down settlement times by 98%. He believes that on-chain settlement can remove this wait altogether.