Nasdaq Pours $100M into Payward at Record-Breaking Valuation

Nasdaq has invested $100M in Payward, the parent company of Kraken, at a valuation of $21B in a direct equity deal.

This investment underscores the accelerating funding rounds for crypto exchanges and Nasdaq's growing interest in cryptocurrency investments.

The round builds on Payward's valuation history from the past year, which has seen significant growth.

Kraken Financial secured its Federal Reserve master account earlier in 2026, tightening institutional ties in digital asset markets.