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Nasdaq puts $100M into Kraken parent Payward at $21B valuation
The deal also includes a Nasdaq surveillance technology rollout across Kraken’s crypto, equities, and tokenized venues.
Nasdaq has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken, valuing the business at $21 billion, according to Cointelegraph.
As part of the investment, Kraken will offer tokenized versions of Nasdaq-listed stocks on its platform. The agreement extends Nasdaq’s push toward tokenized stock products with round-the-clock trading, and it follows a partnership between the two companies announced in March.
Payward will also adopt Nasdaq’s surveillance technology across its crypto, equities, tokenized equities, futures, and options venues, the announcement said.
The investment comes amid other tokenization moves by major exchanges. Cointelegraph notes that Nasdaq plans to acquire Level Markets to build “always-on” markets, and it highlights that Kraken previously partnered with the London Stock Exchange to launch 24/5 trading of tokenized stocks that track leading UK equity products starting in 2027. It also points to Deutsche Börse’s April investment in Payward, which implied a higher valuation earlier in the year.
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