Nasdaq Just Bet $100M on Kraken Bringing Stock Trading to the Blockchain

TLDR

• Nasdaq’s venture arm invested $100 million in Payward, the parent company of crypto exchange Kraken
• The deal values Payward at $21 billion
• Kraken will distribute tokenized Nasdaq-listed stocks on its platform, with full shareholder voting rights
• Payward will adopt Nasdaq’s surveillance technology across its crypto, equities and futures venues
• The deal follows a $200 million investment from Deutsche Börse in April and a Kraken partnership with the London Stock Exchange

Nasdaq has invested $100 million in Payward, the parent company of crypto exchange Kraken. The deal was announced Thursday and values Payward at $21 billion.

Source: https://t.co/oIhF95iOUK

- Wu Blockchain (@WuBlockchain) September 10, 2026

The investment was made through Nasdaq’s venture arm. It builds on a partnership between the two companies that was first announced in March.

Kraken to Offer Tokenized Stocks

As part of the deal, Kraken will distribute tokenized versions of Nasdaq-listed stocks on its own platform. Users will be able to buy and hold these stocks in tokenized form while keeping the same voting rights as regular equity holders.

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