Nasdaq commits $100 million to Kraken parent Payward

Nasdaq has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken. This investment solidifies the partnership established earlier this year and brings financial backing to a strategic collaboration that spans tokenized equities and digital-market infrastructure. The deal adds Payward to Nasdaq's shareholder register but the details of the company's stake, valuation, and whether the funding includes newly issued shares remain undisclosed.

The investment is part of Nasdaq's broader plan to develop infrastructure linking regulated equity markets with blockchain networks. In March, the two companies announced a partnership to create an equities transformation gateway which aims to facilitate tokenized securities moving between permissioned financial-market systems and permissionless blockchain environments, subject to regulation.

Payward operates Kraken alongside several other businesses and is rapidly expanding its operations with acquisitions and partnerships. This investment positions Nasdaq as a financial backer of a company building products in crypto trading, tokenized securities, derivatives, custody, payments, and institutional market infrastructure.