NASDAQ INVESTS $100M IN KRAKEN PARENT PAYWARD

The investment marks a significant move by the traditional exchange operator into the crypto sector. Nasdaq will gain a stake in Payward through the $100 million funding round, which values Kraken—one of the world's largest cryptocurrency exchanges—at $21 billion. Under the partnership, Kraken users will gain access to Nasdaq's tokenized stocks, expanding the exchange's offerings beyond digital assets. This integration allows retail traders on the crypto platform to hold fractional shares of publicly listed companies in tokenized form. The deal reflects growing acceptance of cryptocurrency infrastructure among established financial institutions. Nasdaq's participation signals confidence in Kraken's business model and the broader adoption of blockchain technology for financial markets. Payward operates multiple platforms including Kraken, Kraken Pro, and Kraken Futures. The company previously raised funding at a $10 billion valuation in 2021, making this $21 billion valuation a significant increase in the firm's perceived value.