Nasdaq Partners With Kraken for Tokenized Stocks, Launching 2027
Nasdaq has partnered with Payward, the parent company of crypto exchange Kraken, to develop tokenized equities intended to modernize corporate actions, shareholder engagement, and proxy voting. Set for launch in the first half of 2027, these tokenized shares will carry full legal and regulatory equivalence to traditional shares and allow transfers via tokens. The initiative follows Nasdaq’s prior SEC filing to enable digital and blockchain-based securities trading. Payward will build an "equities transformation gateway" on its xStocks framework to allow trading of tokenized public shares in supported jurisdictions. The initiative aims to expand global access to U.S. markets, improve shareholder communication, and enhance market efficiency. Nasdaq sees tokenization as a way to enable 24/7 markets and greater capital mobility. The move reflects a larger trend, with the NYSE and Intercontinental Exchange also taking steps toward blockchain-based tokenized equities and derivatives.
