Nasdaq Invests $100 million in Kraken Parent Company at $21 billion Valuation
The New York stock exchange invested $100 million in Payward to expand tokenized equity offerings. This move places Kraken's parent company at a $21 billion valuation.
Nasdaq has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken. The deal values Payward at $21 billion. People familiar with the investment told Bloomberg on Thursday that the transaction occurred. As part of the agreement, Kraken will offer tokenized versions of Nasdaq-listed stocks to users on its platform. This investment builds on a strategic partnership announced in March between the two entities. Earlier this month, Kraken partnered with the London Stock Exchange to launch 24/5 trading of tokenized stocks tracking UK equity products starting in 2027. In April, Deutsche Börse invested $200 million in Payward. The current distributed value of tokenized stocks stands at more than $2.9 billion, up 7.4% compared to previous data points compiled by RWA.xyz. Earlier this month, Nasdaq shared plans to acquire Level Markets as part of its push into always-on markets. Additionally, the New York stock exchange filed a tokenization proposal with the US Securities and Exchange Commission one year ago.
