Nasdaq Pours $100M into Kraken Parent Payward at $21B Valuation

Nasdaq has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken. The deal values Payward at a whopping $21 billion.

The investment is part of an expanded partnership between Nasdaq and Payward, which was first announced in March this year. The two companies are working together to develop infrastructure that will enable tokenized shares on the blockchain.

Nasdaq President Tal Cohen stated, 'The next era of market evolution will be defined by how efficiently and seamlessly capital and assets move across the financial system.' He added that expanding their relationship with Payward reflects their conviction in the company's use case in building this infrastructure.