Bloomberg reported on Sept. 10 that an investment arm under Nasdaq will invest $100 million in Payward, the parent company of crypto exchange Kraken, valuing the company at $21 billion. The deal extends a partnership the two sides reached in March this year.
As part of that arrangement, Kraken will offer users tokenized shares of companies listed on Nasdaq. Holders of those tokens will receive the same voting rights as holders of ordinary shares, according to the report.
Nasdaq is also stepping up its push into stock tokenization. The company plans to launch its own stock token in the second quarter of 2027. It had already asked the U.S. Securities and Exchange Commission last year to amend related rules so stocks could be traded in tokenized form on regulated venues, and that request was approved in March this year.
The investment points to closer links forming between Wall Street’s traditional financial infrastructure and the crypto market.
Bloomberg reported on Sept. 10 that an investment arm under Nasdaq will invest $100 million in Payward, the parent company of crypto exchange Kraken, in a deal that values the company at $21 billion.
The investment extends a partnership the two sides reached in March this year. Under that arrangement, Kraken will offer users tokenized shares of companies listed on Nasdaq. Users who hold those tokens will receive the same voting rights as holders of ordinary shares.
Nasdaq is accelerating its stock tokenization plans and aims to launch its own stock token in the second quarter of 2027. Last year, the company applied to the U.S. Securities and Exchange Commission, or SEC, to revise related rules so that stocks could be traded in tokenized form on regulated trading venues. That request was approved in March this year.
The investment also shows that integration between Wall Street’s traditional financial infrastructure and the crypto market is picking up speed.
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