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The investment, as stated by the agency, enhances the collaboration between the two firms and evaluates Kraken at $21 billion. In collaboration, Kraken will provide investors with tokenized shares of Nasdaq-listed companies. Holders of these tokens will maintain identical rights to those possessing conventional shares—namely, voting rights, according to Bloomberg.
A source indicated that Nasdaq intends to introduce its own token in the second quarter of 2027. Spokespeople for both Nasdaq and Payward chose not to provide any comments.
In September 2025, Nasdaq requested the U.S. Securities and Exchange Commission (SEC) to approve amendments to rules enabling the issuance and trading of tokenized shares on regulated exchanges. The initiative received SEC approval in March of this year. That same month, Payward and Nasdaq revealed their collaboration.
Share tokenization, which involves creating digital counterparts of securities on a blockchain, is seen as a possible route to continuous trading on Wall Street, according to Bloomberg; its operational processes are similar to those found in the cryptocurrency market.
Additional participants are making efforts to incorporate crypto infrastructure, especially in the finance sector; for example, the New York Stock Exchange is creating its own blockchain-driven platform for continuous trading of tokenized shares and exchange-traded funds (ETFs).
source: bloomberg.com
A source indicated that Nasdaq intends to introduce its own token in the second quarter of 2027. Spokespeople for both Nasdaq and Payward chose not to provide any comments.
In September 2025, Nasdaq requested the U.S. Securities and Exchange Commission (SEC) to approve amendments to rules enabling the issuance and trading of tokenized shares on regulated exchanges. The initiative received SEC approval in March of this year. That same month, Payward and Nasdaq revealed their collaboration.
Share tokenization, which involves creating digital counterparts of securities on a blockchain, is seen as a possible route to continuous trading on Wall Street, according to Bloomberg; its operational processes are similar to those found in the cryptocurrency market.
Additional participants are making efforts to incorporate crypto infrastructure, especially in the finance sector; for example, the New York Stock Exchange is creating its own blockchain-driven platform for continuous trading of tokenized shares and exchange-traded funds (ETFs).
source: bloomberg.com
