Nasdaq (NDAQ) is investing $100 million in Payward, the parent of digital asset exchange Kraken, the company said Thursday.
The minority investment by Nasdaq's venture capital arm values the crypto company at $21 billion, Bloomberg reported.
As part of the deal, Kraken will offer tokenized versions of Nasdaq stocks on its platform, with Nasdaq Equity Tokens expected to launch in Q2 2027.
Payward will also incorporate Nasdaq's surveillance technology into its portfolio of trading venues, the company said.
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