Nasdaq Invests $100 Million in Payward, Parent Company of Kraken

The Nasdaq has invested $100 million in Payward, the parent company of Kraken, bringing its valuation to $21 billion. This investment is part of a strategy aimed at developing infrastructure for a market of tokenized stocks, which is estimated to be worth several hundred billion dollars. The agreement will allow Kraken to offer Nasdaq's tokenized stocks in the form of tokens, providing the same voting rights as traditional shares. This partnership may also indicate that Nasdaq is preparing to launch its Nasdaq Equity Tokens (NET), which would enable the creation of replicas of traditional stocks on the blockchain. It also revives the possibility of Kraken's initial public offering, which was initially postponed in March due to unfavorable market conditions.