Nasdaq backs tokenized stocks push with Kraken parent, targeting 2027 launch
Nasdaq’s venture capital arm is investing $100 million in Payward, the parent of Kraken, to build the infrastructure and surveillance for tokenized equities and aim for a Q2 2027 launch; the deal expands a prior partnership to test Nasdaq Equity Tokens and will have Payward adopt Nasdaq’s market-surveillance technology across its venues as Kraken broadens from crypto into stocks and other assets, with token holders not owning the underlying shares and Kraken valued at about $21 billion.