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 investment valued Kraken’s parent company at $21 billion, people familiar with the matter told Bloomberg on Thursday. Cointelegraph approached Nasdaq for comment on the matter but did not receive a reply before publishing time.
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