Key Takeaways
According to Bitcoin Magazine, Nasdaq is investing $100 million in Kraken parent company Payward, valuing the firm at $21 billion to build tokenization infrastructure.
According to Bitcoin Magazine, Nasdaq Inc. is investing $100 million in crypto exchange Kraken’s parent company, Payward. The deal values the crypto company at $21 billion, according to a Bloomberg report cited by Bitcoin Magazine.
Bitcoin Magazine reported that the agreement will help build infrastructure for tokenization and allow Kraken to distribute Nasdaq’s tokenized stocks on its platform, enabling customers to own Nasdaq-listed stocks in a tokenized form. Neither party had announced the deal at the time of the reports.
Bitcoin Magazine noted that Wall Street is increasingly eyeing crypto infrastructure to tokenize assets. Other recent developments include the New York Stock Exchange building a platform for tokenized equities and exchange-traded funds, and a deal between Payward and SoFi Technologies to route customer crypto orders through Kraken Prime and list SoFi's stablecoin on the exchange. Kraken has also been pushing into traditional finance, allowing users to trade stocks and bonds.
Source & Fact-Check Note
This report is synthesized from coverage by Bitcoin Magazine. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at Bitcoin Magazine ↗
