Nasdaq Invests in Payward, Circle Acquires Tazapay in Deal Worth Over $100 Million

Nasdaq has announced an expansion of its relationship with Payward, the parent company of Kraken, including a $100 million investment from Nasdaq Ventures. This partnership aims to advance the development of tokenized market infrastructure while maintaining issuer-centric approach grounded in strong governance and regulatory compliance.

The investment is part of Nasdaq's efforts to support the continued evolution of tokenized equities and is expected to launch Net Equity Tokens (NETs) in 2Q27. The partnership will also see Payward adopt Nasdaq's surveillance technology across its portfolio of trading venues, including crypto, equities, tokenized equities, futures, and options.

Meanwhile, Circle Internet Group has signed a definitive agreement to acquire Tazapay, a Singapore-headquartered B2B cross-border payments infrastructure company. The deal is expected to close in 2027 and will add over $25 billion of annualized payment volume and more than 60 banking and fintech partners to Circle's payments infrastructure.

Circle CEO Jeremy Allaire stated that the acquisition will accelerate worldwide adoption of its stablecoin, USDC, by combining it with Tazapay's world-class banking relationships and local payout rails. The deal is seen as a significant step in the development of stablecoins as core infrastructure in the global economy.