Kraken: Nasdaq Invests $100 Million in Payward at $21 Billion Valuation

Nasdaq is investing $100 million in Payward, the parent company of cryptocurrency exchange Kraken, through its venture investment arm, according to Bloomberg. The investment values Payward at $21 billion and deepens a strategic partnership established between the companies in March. The firms aim to accelerate next-generation market infrastructure supporting the trading, settlement and custody of tokenized equities. The investment further strengthens Nasdaq’s involvement in blockchain-based financial infrastructure and Payward’s expansion in tokenized markets.