Nasdaq Invests $100 Million in Payward for 2027 Tokenized Equities Launch

3 articles · Updated · CNBC · Sep 10

$100 million from Nasdaq’s venture arm will fund Kraken parent Payward as the partners target a second-quarter 2027 launch for tokenized equities.
The new phase expands their Nasdaq Equity Tokens work into infrastructure for distributing and trading blockchain-based stock tokens, while Payward adopts Nasdaq surveillance technology across its crypto and future tokenized venues.
Payward’s valuation rises to $21 billion as Kraken pushes beyond cryptocurrencies into stocks, derivatives and other traditional assets to build a broader multi-asset platform.
The deal underscores Wall Street’s broader drive to mainstream tokenized securities, even as a Robinhood-AMC dispute highlights unresolved questions over whether such tokens confer actual shareholder rights.

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CNBC23h ago

Nasdaq Invests $100M in Kraken Parent Payward for 2027 Tokenized Stock Launch

X1d ago

Wall St Engine on X: "The $100M investment in Kraken parent Payward at a $21B valuation expands Nasdaq's push into tokenized equities. Under the partnership: • Kraken will distribute tokenized Nasdaq-listed stocks •

Crypto Times1d ago

Nasdaq Bets $100M on Payward's xStocks Pipeline as Valuation Divergence Widens

6 Sources

Will Nasdaq's $100M gamble on Kraken actually give you real stock ownership, or just a synthetic illusion trapped in a smart contract?

Can Nasdaq's surveillance tech truly tame the blockchain, or will tokenized stocks just create unprecedented blind spots for global financial regulators?

As Wall Street pushes atomic settlement, who really holds the bag when a 24/7 tokenized equity market faces a midnight liquidity crisis?

From $100 Million to 24/7 Markets: How Nasdaq and Payward Are Leading the Tokenized Equity Revolution

Overview

Nasdaq’s $100 million investment in Payward, the parent of Kraken, marks a major step toward launching 24/7 tokenized equity trading. By leveraging Payward’s xStocks infrastructure, Nasdaq plans to introduce Nasdaq Equity Tokens (NETs) in 2027, reducing Payward’s IPO pressure and boosting its valuation. This shift enables financial markets to operate around the clock, letting real-time news instantly affect prices and making tokenized assets leading indicators for traditional stocks. The move fuels a surge in retail participation and amplifies market volatility, while also requiring advanced AI-driven surveillance to detect complex manipulation and ensure market integrity in this new trading era.

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