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 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.
The announcement comes a month after Nasdaq shared plans to acquire Level Markets as part of its push into “always-on” markets. Nasdaq filed a tokenization proposal with the US Securities and Exchange Commission a year ago.