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

Nasdaq Inc., a leading stock exchange operator, has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken. This investment values Payward at an impressive $21 billion.

The capital infusion from Nasdaq's venture arm is a significant boost for Payward as it continues to build out infrastructure that supports trading stocks in tokenized form. According to people familiar with the matter, this partnership was announced in March and has since expanded with this latest investment.