Nasdaq said it is expanding its relationship with Payward, the parent company of crypto exchange Kraken, through a planned $100 million investment from Nasdaq Ventures and a broader collaboration around tokenized stocks. The companies also signed a new market surveillance agreement as part of the deal.
The tokenized stock initiative is scheduled to begin between April and June next year and will be led by Nasdaq’s market business unit, the Digital Liquidity Network, or DLN. According to the report cited by Techub News, the partnership is designed to pair Nasdaq’s market infrastructure with Payward’s crypto technology as both sides explore how traditional financial assets can be combined with blockchain systems.
Techub News attributed the information to CoinPost.
Nasdaq said it is expanding its partnership with Payward, the parent company of crypto exchange Kraken. Under the plan, Nasdaq Ventures, the exchange operator’s strategic investment arm, will invest $100 million in Payward. The two companies will also work together on a tokenized stock project and have signed a new market surveillance agreement.
Launch window set for April to June next year
The tokenized stock project is scheduled to start between April and June next year. It will be led by Nasdaq’s market business unit, the Digital Liquidity Network (DLN).
According to the report, the cooperation is intended to combine Nasdaq’s market infrastructure with Payward’s crypto technology to explore links between traditional financial assets and blockchain.
Techub News cited CoinPost as the source of the report.
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