Nasdaq Invests in Kraken Parent Payward at $21 Billion Valuation

$100 million investors will feel a surge of optimism as Nasdaq pours $100 million into Payward, the parent of Kraken, setting the stage for tokenized stock products. Analysts anticipate that the infusion could accelerate the rollout of blockchain‑based share classes, potentially reshaping how investors access equity exposure across borders. The funding follows Nasdaq’s strategic decision to deepen its relationship with Payward, aiming to advance tokenized equities and maintain continuous infrastructure. A press release from Nasdaq, reproduced by Moomoo, describes the partnership as a move to embed always‑on systems for digital securities. The Manila Times echoed the announcement, noting that the partnership aims to sustain continuous trading systems for digital assets.

By aligning with Payward, Nasdaq positions itself to expand beyond traditional listings and tap into blockchain‑based share issuance. Reuters reported the $100 million injection as part of Nasdaq’s broader tokenization push, while Bloomberg noted the transaction valued Payward at $21 billion. CNBC added that Nasdaq targets a 2027 launch of tokenized stock trading under the partnership. qz.com reported the same $100 million figure and highlighted the focus on tokenized stocks. GuruFocus analysts indicated Nasdaq could be priced about 16% above their GF Value™ estimate. The Manila Times described the deal as a deepening of Nasdaq’s relationship with Payward to advance tokenized equities.

Market participants will watch how regulators respond and whether the tokenized offerings meet investor demand, factors that will shape the success of Nasdaq’s new digital securities platform. Key issues include regulatory clearance for blockchain‑based equity instruments and the readiness of custodial infrastructure. Will Nasdaq meet its 2027 launch target?