Nasdaq’s venture arm made a $100 million investment in Payward, the exchange operator revealed in a Thursday . As part of the deal, Kraken will offer tokenized versions of Nasdaq-listed stocks on its own platform. The investment builds on Payward announced in March.
The investment valued Kraken’s parent company at $21 billion, people familiar with the matter Bloomberg on Thursday. Cointelegraph approached Nasdaq for comment on the matter but did not receive a reply before publishing time.
The announcement comes a month after Nasdaq shared plans to acquire Level Markets as part of its push into “always-on” markets. Nasdaq proposal with the US Securities and Exchange Commission a year ago.
Earlier this month, Kraken partnered with the to launch access to 24/5 trading of tokenized stocks that are tracking the value of leading UK equity products starting in 2027.
In April, $200 million in Payward, as part of the German exchange operator’s plans to offer access to a wider array of blockchain-based securities and tokenized investment products.
According to data compiled by RWA.xyz, the current distributed value of tokenized stocks is more than $2.9 billion, up 7.4% over the past month.
Related: AMC chief criticizes Robinhood’s tokenized stock plan