Nasdaq Puts Big Bet on Tokenized Stocks with $100 Million Investment in Payward

Nasdaq is making a significant investment in tokenized stocks, partnering with Payward, the parent company of Kraken. The exchange operator's Nasdaq Equity Token (NET) framework aims to launch its system by the second quarter of 2027.

The $100 million stake in Payward will help build the infrastructure necessary for high-trust, high-reliability tokenized stock trading. This platform will confer direct ownership and voting rights on stockholders, unlike traditional stock transactions where the buyer only holds a contractual claim to the stock.

Nasdaq emphasized that its goal is to construct a platform that helps build a more connected financial system while preserving trust, transparency, and integrity. The company's venture arm, Nasdaq Ventures, made the investment in Payward.