Nasdaq invests $100 million in Kraken parent Payward and expands partnership
Nasdaq backs Payward with $100 million investment
Nasdaq announced that its venture arm will invest $100 million in Payward, the parent company of the Kraken crypto exchange. The deal also expands a partnership that began in March 2026.
Key details
- Investment amount: $100 million.
- Payward valuation from the deal: $21 billion (reported by Bloomberg).
- Payward will integrate Nasdaq’s market‑surveillance technology across its trading venues, including crypto and tokenized equities.
- Both companies aim to launch Nasdaq Equity Tokens (NETs) in the second quarter of 2027.
- The partnership also includes an equities‑transformation gateway linking regulated markets with blockchain networks.
Partnership specifics
Under the expanded agreement, Payward will use Nasdaq’s surveillance tools to monitor trading on its platforms, which cover crypto, equities, tokenized equities, futures and options. The firms are also working on Nasdaq Equity Tokens, digital versions of stocks that can be settled on‑chain, meaning settlement happens directly on the blockchain without waiting for traditional clearing.
Timeline for token launch
Nasdaq said the design for equity tokens and related distributed‑ledger services will become operational in the first half of 2027, with the first public launch expected in the second quarter of 2027.
Why it matters
The investment shows Nasdaq’s interest in blockchain‑based financial infrastructure. By adopting Nasdaq’s surveillance technology, Payward aims to increase transparency and trust for traders of both crypto and tokenized equity products.
