Nasdaq's $100 Million Bet on Tokenized Stocks
Nasdaq has made a significant move into the world of tokenized stocks by investing $100 million in Payward, the parent company of crypto exchange Kraken. This investment is part of Nasdaq's efforts to bring its Nasdaq Equity Token (NET) framework closer to reality.
The NET framework aims to launch high-trust and high-reliability tokenized stock trading systems. These systems would record investments on a blockchain, similar to buying or selling cryptocurrencies. However, the key difference is that buyers would hold only contractual claims to the stocks, not direct ownership.
Nasdaq's goal is to confer direct ownership and associated rights, such as voting, to stockholders through this system. The company emphasizes its desire to build a more connected financial system while preserving trust, transparency, and integrity.
The partnership between Nasdaq and Payward targets a second-quarter 2027 launch for the NET framework. This platform would represent a significant evolution in tokenized stock trading, potentially leading to increased adoption if it meets its stated goals of transparency and security.