Nasdaq Invests Heavily in Kraken Parent Company to Boost Tokenized Equities

Nasdaq has agreed to invest $100 million in Payward, the parent company of Kraken, as part of an expanded partnership between the two firms.

The investment values Payward at $21 billion and is intended to support the development of tokenized equities and market infrastructure.

Nasdaq's Ventures arm will adopt Payward's market surveillance technology across its portfolio of trading venues, including crypto, equities, tokenized equities, futures, and options.

The partnership began in March 2026 when the firms announced plans to build an equities transformation gateway linking regulated markets with blockchain networks.