Nasdaq is dropping $100 million into Payward, the parent company behind Kraken. This latest round puts Payward’s valuation at a hefty $21 billion.

Deal Details

The investment clocks in at $100 million, locking in Payward’s post-money valuation at $21 billion. Payward runs the show as Kraken’s parent company. The article doesn’t spill any more specifics about the deal itself.

Zeroing In on Tokenized Assets

Nasdaq and Payward have already teamed up before, working on infrastructure for tokenized stocks. Their joint push is all about building the tech rails for trading digital versions of traditional securities.

Why This Matters for the Market

This deal shows that legacy finance players are seriously eyeing crypto companies and anything tied to tokenization. For the ecosystem, it’s a clear signal: there’s real demand for solutions that bridge the gap between traditional capital markets and digital assets.