Nasdaq Invests in Kraken Parent for Tokenization Expansion

Nasdaq has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken. This investment is part of Nasdaq's expansion into tokenized assets.

The deal values Kraken's parent company at $21 billion, according to people familiar with the matter who spoke to Bloomberg.

Kraken will offer tokenized versions of Nasdaq-listed stocks on its platform as a result of this partnership. This builds on Nasdaq's previous partnership announcement with Payward in March.