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FollowingNasdaq invests in Payward, parent company of cryptocurrency exchange Kraken, to accelerate the tokenization process
Nasdaq's venture capital arm announced an investment of US$100 million in Payward, parent company of cryptocurrency exchange Kraken. This strategic move aims to deepen cooperation between the two parties and promote the construction of financial infrastructure that supports stock tokenized trading, clearing and settlement.
Deepen strategic cooperation, valued at US$21 billion.
According to the official announcement on September 10, this investment brings Payward's valuation to US$21 billion. Nasdaq and Payward are jointly advancing the development of the "Nasdaq Equity Tokens"(NET) framework and signing a new market monitoring agreement. The infrastructure will support asset transfers between licensed institutional systems and decentralized networks.
Tal Cohen, President of Nasdaq, said: "The expansion of our relationship with Payward reflects our strong belief in the company that Payward can play an important role in building the infrastructure that supports this evolution."
xStocks Ecology and Future Planning
Both parties plan to launch NETs in the second quarter of 2027. Previously, the two companies have collaborated to design a framework to connect the Payward xStocks ecosystem. The xStocks token is designed to serve as a 1:1 representation of the underlying stock, retaining the rights of the issuer, governance functions, and regulatory protection.
Payward co-CEO Arjun Sethi revealed that xStocks 'transaction volume has grown rapidly since its launch. The next phase of cooperation will advance global distribution, trading and post-transaction processing capabilities to support broader stock tokenization adoption.
Traditional financial institutions accelerate their embrace of tokenization
Kraken is vigorously promoting the tokenization process in line with the regulatory priorities of the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). Previous reports have shown that the London Stock Exchange has partnered with Payward to token the 100 largest companies listed in London into xStocks. In addition, Germany's Deutsche Börse also invested US$200 million in Payward, receiving a fully diluted 1.5% stake.
's tokenization partnerships with Nasdaq, London Stock Exchange and Deutsche Bourse form the core narrative Payward builds for investors. Kraken has expanded access to U.S. equity trading to eligible European Economic Area (EEA) customers and has expanded on its existing xStocks tokenization products.
