Nasdaq Pumps $100M into Kraken to Pioneer Blockchain-Based Stock Trading

Nasdaq has invested $100 million in Payward, the parent entity of cryptocurrency exchange Kraken. This investment establishes Payward's valuation at $21 billion.

The deal marks a significant move towards embracing blockchain technology on Wall Street, with Nasdaq's venture division executing the investment. The partnership aims to offer tokenized versions of Nasdaq-listed equities on Kraken's platform, preserving complete shareholder voting privileges.

Nasdaq will also implement its market surveillance systems across Payward's cryptocurrency, equity, and derivatives platforms. This follows a recent announcement from Deutsche Börse, which committed $200 million to Payward in April.