Nasdaq Investment in Kraken Sends Payward Valuation to $21B

Nasdaq is making a $100 million bet on Kraken, and the bigger story may be what the exchange operator wants to build around it.The Nasdaq investment in Kraken parent company Payward values the business at $21 billion, according to Bloomberg, citing people familiar with the deal. The money is coming from Nasdaq’s venture arm and expands a partnership announced in March.At the center of that partnership are tokenized stocks. Kraken will distribute Nasdaq’s tokenized equities on its pla