Nasdaq Ventures invests $100M in Kraken parent Payward

Nasdaq Ventures has committed $100 million to Payward, the parent company of the cryptocurrency exchange Kraken. The investment is intended to support the development of tokenized equities and the expansion of always-on financial markets.

The strategic move aims to connect traditional clearing rails with continuous digital networks. Nasdaq plans to launch a tokenized equity framework, referred to as Nasdaq Equity Tokens (NETs), in the second quarter of 2027. This framework is designed to integrate with Payward’s xStocks network, allowing securities to trade on-chain around the clock while maintaining legal shareholder protections.