Nasdaq to invest 100 million USD in Payward, enhances Kraken partnership

Nasdaq plans to invest 100 million USD in Payward, the parent company of Kraken, while Payward will implement Nasdaq's market-surveillance technology across its trading operations. This investment, made through Nasdaq Ventures, adds a financial dimension to their existing partnership focused on tokenized equities. Payward will use Nasdaq's surveillance tools across various trading venues, including crypto, equities, and futures, expanding their collaboration beyond just the planned Nasdaq Equity Tokens (NETs). The announcement details an agreement to invest but does not specify a closing date, Payward's valuation, or Nasdaq's governance rights. The partnership, which began earlier this year, aims to connect Nasdaq's issuer-sponsored tokens with Payward's xStocks tokenized-equity ecosystem. Nasdaq and Payward anticipate launching NETs in Q2 2027. The investment enhances Payward's role as a key partner in the infrastructure and monitoring of the planned token system.

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