Nasdaq plans $100M investment in Payward (Kraken parent) with equity tokens expected to launch in Q2 2027.
RWA & Tokenization ·
Nasdaq has committed to investing $100 million in Payward, the parent company of Kraken, according to reports. Nasdaq Equity Tokens are slated to launch in Q2 2027, marking a concrete timeline for the exchange's tokenization initiative.
The investment pairs a substantial capital commitment with a defined product roadmap. Tokenization of equity instruments could reshape how trading and settlement operate, though the mechanics of the launch remain to be detailed—including whether extended market hours, accelerated settlement cycles, or expanded market access will be the first operational change.
What is still unclear: the specific terms of Nasdaq's equity token product, its relationship to traditional Nasdaq listings, whether Payward's broader exchange operations will be affected by the investment, and which settlement or trading infrastructure changes will take priority at launch.