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Nasdaq Ventures to invest $100 million in Payward at $21 billion valuation
The funding agreement would let Kraken distribute Nasdaq-listed stocks in tokenized form with voting rights matching regular Nasdaq shares.
Nasdaq Ventures will invest $100 million in Payward, the parent company of crypto exchange Kraken, valuing Payward at $21 billion, CoinDesk reported. The investment expands a strategic partnership focused on tokenized equities and the infrastructure needed to support onchain trading.
Under the deal, Kraken will distribute tokenized Nasdaq-listed stocks on its platform. The tokenized stocks are set to carry the same voting rights as the underlying shares traded on Nasdaq’s exchange, aiming to give users the ability to buy and own those equities in tokenized form without losing shareholder rights.
Nasdaq said the investment is intended to support its push toward round-the-clock tokenized markets as U.S. exchange operators broaden their blockchain infrastructure. Nasdaq is working with Kraken on infrastructure to bridge tokenized equities between regulated and onchain markets, and Nasdaq previously announced plans to give publicly traded companies more control over their shares when tokenized.
Payward’s leadership described the collaboration as advancing Nasdaq Equity Tokens onto systems that do not close, with voting rights kept intact, according to Nasdaq’s statement carried by CoinDesk. The reporting also noted that NYSE is building its own venue for 24-7 trading of tokenized stocks and ETFs.
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