# Payward strategic expansion into digital asset integration

> Live situation record from CLSTR: https://clstr.news/situations/payward-strategic-expansion-into-digital-asset-integration
> Updated: 2026-10-02T17:40:53.000Z. Sources: 13. Developments: 2.

Payward, the parent company of the cryptocurrency exchange Kraken, has engaged in significant strategic developments aimed at integrating digital assets with traditional financial infrastructure.

In September 2026, Nasdaq Ventures committed $100 million to Payward to support the expansion of always-on financial markets and the development of tokenized equities. This collaboration involves the creation of Nasdaq Equity Tokens (NETs), intended to integrate with Payward’s xStocks network to allow for around-the-clock on-chain trading while maintaining shareholder protections. Payward and Nasdaq are currently working toward a launch of these tokens in the second quarter of 2027.

Following this, BNY entered discussions with Payward regarding a broad potential partnership. The proposed cooperation could encompass digital asset products, custody, wealth management, trading, payments, and financial infrastructure, potentially utilizing the Payward Services B2B platform. This potential arrangement may mirror the infrastructure-focused collaboration Payward established with Nasdaq.

As part of its broader expansion beyond spot crypto trading, Payward has recently acquired Bitnomial, Reap, and NinjaTrader to incorporate derivatives, staking, and stablecoin payments into its offerings.

## Claims

- BNY and Payward are in discussions regarding a potential partnership. (corroborated by 4 sources)
- The potential partnership could cover crypto products, custody, wealth management, trading, payments, and infrastructure. (corroborated by 4 sources)
- Nasdaq Ventures agreed to invest $100 million in Payward in September at a $21 billion valuation. (corroborated by 3 sources)
- Payward and Nasdaq aim to launch Nasdaq Equity Tokens in the second quarter of 2027. (corroborated by 2 sources)
- Payward acquired the derivatives broker Bitnomial for up to $550 million in April. (single source)
- Payward acquired the stablecoin payment company Reap for $600 million. (single source)
- Payward acquired the futures platform NinjaTrader for approximately $1.5 billion in 2025. (single source)
- Payward has postponed its planned initial public offering (IPO) until at least the second quarter of 2027. (single source)

## Timeline

### 2026-10-02: BNY explores digital asset partnership with Kraken parent Payward

BNY is negotiating a potential broad partnership with Payward, the parent of Kraken, covering digital assets, custody, payments, and financial infrastructure.

6 sources. https://clstr.news/cluster/payward-and-bny-discuss-potential-digital-asset-partnership

### 2026-09-13: Nasdaq Ventures invests $100M in Kraken parent Payward

Nasdaq Ventures is investing $100 million in Payward, Kraken’s parent company, to develop tokenized equities and a continuous trading framework targeted for a 2027 launch.

8 sources. https://clstr.news/cluster/nasdaq-ventures-invests-100m-in-kraken-parent-payward

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Cite as: Payward strategic expansion into digital asset integration. CLSTR, https://clstr.news/situations/payward-strategic-expansion-into-digital-asset-integration