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Nasdaq (Nasdaq: NDAQ) announced on Sep. 10 that its strategic investment arm, Nasdaq Ventures, is investing $100 million in Payward, the parent company of the Kraken crypto exchange.
The two companies also announced a partnership to launch the Equity Token (NET) framework by the second quarter of 2027.
"The next era of market evolution will be defined by how efficiently and seamlessly capital and assets move across the financial system with durable liquidity," said Nasdaq President Tal Cohen. "Expanding our relationship with Payward reflects our conviction that the company can play an important role in building the infrastructure that supports this evolution."
Nasdaq and Payward had announced the NET partnership in March to support the tokenization of equities within "existing regulatory frameworks" which gives public issuers more control over the tokenized versions of their companies' stocks.