Nasdaq invests $100 million in Kraken parent company Payward at $21 billion valuation
Nasdaq has invested $100 million into Payward, the parent company of the Kraken cryptocurrency exchange, at a $21 billion valuation. The partnership aims to integrate tokenized Nasdaq-listed stocks onto the Kraken platform, allowing users to trade equities with traditional voting rights.
Why it matters
This deal represents a major bridge between traditional financial infrastructure and blockchain technology, signaling increased institutional adoption of tokenized assets.
The investment from Nasdaq’s venture arm values Payward at $21 billion and expands on a partnership with the company that was announced in March, the people said.
Kraken did not immediately respond to a CoinDesk request for confirmation.
Payward’s plans to raise funds were first reported by CoinDesk in May , when two people with knowledge of the matter revealed that Payward was seeking new capital at a $20 billion valuation.
Kraken will distribute Nasdaq’s tokenized stocks on its own platform as part of the funding agreement. The aim is to allow users to buy and own Nasdaq-listed stocks in a tokenized form, although with the same voting rights as regular equities that trade on Nasdaq’s exchange, according to the report.
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