Nasdaq invests $100M in Kraken parent at $21B valuation: Report
Nasdaq’s venture arm invested $100 million in Payward, Kraken’s parent company, deepening a partnership focused on tokenized assets. As part of the deal, Kraken will list tokenized versions of Nasdaq-listed stocks on its platform. The investment reportedly values Payward at $21 billion. The move fits Nasdaq’s broader push into tokenization and always-on markets. Nasdaq recently said it plans to acquire Level Markets and previously filed a tokenization proposal with the SEC. Kraken has also expanded in this area through a recent partnership with the London Stock Exchange to support 24/5 trading of tokenized stocks, and Deutsche Börse invested $200 million in Payward in April for similar reasons. Tokenized stocks now have a combined distributed value of more than $2.9 billion, up 7.4% over the past month.
