Nasdaq Pours $100M Into Kraken’s Vision for Blockchain-Based Stock Trading

Key Highlights

• Payward, which operates Kraken crypto exchange, secured a $100 million investment from Nasdaq’s venture division
• Payward’s valuation reached $21 billion in this latest funding round
• Tokenized Nasdaq-listed equities will become available on Kraken, preserving complete shareholder voting privileges
• Nasdaq’s market surveillance systems will be implemented across Payward’s cryptocurrency, stock, and derivatives trading platforms
• This transaction follows Deutsche Börse’s $200 million April investment and Kraken’s collaboration with London Stock Exchange

Nasdaq has committed $100 million to Payward, the entity behind cryptocurrency exchange Kraken. Thursday’s announcement disclosed the transaction, establishing Payward’s worth at $21 billion.

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Nasdaq’s venture capital arm facilitated this investment. The funding strengthens a strategic alliance between both organizations originally unveiled in March.

Tokenized Equity Trading Coming to Kraken

Under the terms of this agreement, Kraken will make tokenized representations of Nasdaq-listed companies available through its trading infrastructure. Investors will gain the ability to purchase and maintain these digital securities while retaining identical voting privileges enjoyed by traditional shareholders.

According to Payward co-CEO Arjun Sethi, the partnership’s upcoming stage aims to introduce Nasdaq Equity Tokens on continuously operating infrastructure while maintaining all shareholder entitlements.

Payward initiated fundraising efforts as early as May, with industry reports indicating the company targeted a $20 billion assessment. The completed agreement exceeded initial projections.

For Nasdaq, this capital deployment represents strategic backing for tokenized financial market development. The exchange submitted a tokenization framework to the US Securities and Exchange Commission twelve months ago.

Additionally, Payward will integrate Nasdaq’s monitoring and compliance technology. The implementation will extend across cryptocurrency exchanges, traditional equity markets, tokenized securities, futures contracts, and options platforms.

This announcement arrives roughly four weeks following Nasdaq’s disclosure of intentions to acquire Level Markets, advancing its continuous trading market ambitions.

Traditional Exchanges Embrace Blockchain Trading Models

Nasdaq isn’t operating in isolation with this strategy. The New York Stock Exchange is developing its own infrastructure supporting continuous tokenized stock and ETF transactions.

Just weeks ago, Kraken announced a collaboration with the London Stock Exchange establishing 24/5 access to tokenized securities representing prominent UK equity instruments. Implementation of that platform is scheduled for 2027.

Deutsche Börse contributed $200 million to Payward in April. That investment similarly emphasized blockchain-powered securities and digital asset investment vehicles.

Current market data from RWA.xyz indicates tokenized stock valuations have surpassed $2.9 billion. This represents a 7.4% increase within the last thirty days.

The capital infusion signifies another milestone in Nasdaq’s ongoing initiative to bridge conventional equity markets with blockchain technology and non-stop trading capabilities.