Nasdaq’s venture arm has injected $100 million into Payward, the parent company of crypto exchange Kraken. The fresh capital pegs Payward’s valuation at $21 billion. This valuation marks a steep rise within five months, climbing from $13.3 billion recorded when Deutsche Börse invested $200 million last April.
The investment agreement binds both parties to advanced operational collaboration. Kraken will distribute tokenized Nasdaq-listed shares directly through its trading platform. Holders of these digital shares will receive voting rights equivalent to common shareholders. In return, Kraken agreed to implement Nasdaq’s market surveillance technology across all of its trading venues, covering crypto markets, equities, tokenized equities, as well as futures and options.
Nasdaq Token Preparations
The investment builds on an initial partnership between Nasdaq and Payward announced in March 2026. Nasdaq is now even preparing to launch its own proprietary token, according to sources cited by Bloomberg. The token issuance is slated for release in the second quarter of next year.
Nasdaq’s expansion comes in response to rapid growth across the real-world asset market. Data from RWA.xyz shows that the total value of circulating tokenized shares has now surpassed $2.9 billion. The circulating value of these assets recorded a 7.4% growth over the past month.
Traditional Exchange Capital Inflow
Investments by traditional stock exchanges into crypto platforms are not limited to a single entity. Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, previously invested in OKX this past March. That investment in Kraken’s rival exchange came at a $25 billion valuation, securing ICE a seat on its board of directors.
For Kraken, integration with conventional financial institutions continues to widen. In early September, the crypto exchange signed a partnership with the London Stock Exchange. The cross-border collaboration is designed to unlock access to 24/5 trading of UK tokenized shares, scheduled to go live in 2027.
Source: Cointelegraph.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
