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Nasdaq announced on Sept. 10 that Nasdaq Ventures agreed to invest $100 million in Payward, Kraken’s parent company; the deal reportedly values Payward at $21 billion, according to people familiar with the matter cited by Bloomberg and reported by CoinDesk.
Nasdaq and Payward said Payward will adopt Nasdaq’s market-surveillance technology across its crypto, equities, tokenized-equities, futures and options trading venues, and that they expect to launch Nasdaq Equity Tokens in the second quarter of 2027.
Nasdaq Ventures takes a $100 million stake in Payward
Nasdaq said its venture arm had agreed to make the $100 million investment in Payward. Nasdaq’s announcement identifies Payward as Kraken’s parent company.
The $21 billion figure was not included in Nasdaq’s announcement. It was reported by CoinDesk, citing people familiar with the matter who were also cited by Bloomberg.
Nasdaq framed the agreement around its always-on markets and tokenized-equities strategy. The transaction therefore links a financial investment in Payward with technology deployment and a jointly announced product-development timetable.
Payward adopts Nasdaq surveillance across trading venues
Payward will adopt Nasdaq’s market-surveillance technology across its crypto, equities, tokenized-equities, futures and options trading venues, according to Nasdaq’s investor-relations announcement.
Nasdaq Equity Tokens are targeted for Q2 2027
Nasdaq and Payward said they will continue developing Nasdaq Equity Tokens and expect a launch in the second quarter of 2027. That is the specific product milestone disclosed alongside the investment and surveillance agreement.
The announcement does not specify which equities the tokens would represent or provide additional product mechanics; for now, it gives Q2 2027 as the planned launch timetable.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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