Nasdaq Invests $100 Million in Kraken Parent Payward, Targets 2027 Launch of Tokenized Nasdaq Stocks

Nasdaq's venture arm has invested $100 million in Payward, the parent company of crypto exchange Kraken, at a $21 billion valuation. This strategic investment deepens a partnership announced in March, positioning Kraken to act as the settlement layer and provide KYC/AML compliance for Nasdaq Equity Tokens (NETs). These blockchain-based representations of Nasdaq-listed stocks are expected to launch in the first half of 2027 and are designed to trade around the clock while preserving standard shareholder voting rights.