Nasdaq invests $100M in Kraken parent at $21B valuation: Report

Nasdaq invested $100 million in Payward as part of its push toward tokenized stock products with round-the-clock trading.

Nasdaq has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken, as part of the New York electronic bourse’s expansion into tokenized assets.

Nasdaq’s venture arm made a $100 million investment in Payward, the exchange operator revealed in a Thursday announcement. As part of the deal, Kraken will offer tokenized versions of Nasdaq-listed stocks on its own platform. The investment builds on Nasdaq’s partnership with Payward announced in March.

Payward will also adopt Nasdaq’s surveillance technology across its crypto, equities, tokenized equities, futures and options venues, according to the announcement.

Read more