Nasdaq Invests $100 Million in Kraken Parent Company Payward

Nasdaq Ventures has invested $100 million in Payward, the parent company of the crypto exchange Kraken. The partnership aims to bring traditional equities on-chain as permissioned tokens, collaborate on market surveillance and data, and expand the xStocks platform. Kraken also discussed its transition into a multi-asset platform and its target for an IPO by 2027.