Nasdaq invests $100 million in Kraken’s parent to accelerate tokenized equity platform
Nasdaq's venture arm is committing $100 million to Payward, Kraken's owner, to expand infrastructure for tokenized equity trading.
Nasdaq's venture division has agreed to invest $100 million in Payward, the parent of the Kraken cryptocurrency exchange, strengthening a joint effort to develop infrastructure for tokenized equity markets. The two firms plan to create a framework that lets tokenized assets trade and settle beyond traditional market sessions while preserving regulatory safeguards and market integrity. They aim to introduce Nasdaq Equity Tokens (NETs) in the second quarter of 2027 using Payward's xStocks platform, ensuring shareholder rights remain intact.
Payward co-CEO Arjun Sethi said the next phase will move the tokens onto rails that never close. The funding builds on a partnership announced in March and comes after the U.S. Securities and Exchange Commission approved tokenized trading for certain stocks.
