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

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

The deal marks a significant step forward for tokenized stock trading, which allows companies to issue digital tokens representing their shares on blockchain platforms.

Nasdaq and Kraken are working together to develop the Equities Transformation Gateway (ETG), a system that will connect regulated stock markets with blockchain trading systems.

The ETG is expected to launch in the first half of 2027, pending regulatory approval.