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      Nasdaq and Payward Collaborate on Tokenized Equities Infrastructure

      On March 9, 2026, Nasdaq and Payward, the parent company of cryptocurrency exchange Kraken, announced a partnership focused on developing infrastructure for tokenized equities. This collaboration aims to facilitate the movement of tokenized versions of publicly listed stocks between Nasdaq's regulated markets and blockchain platforms. The launch of Nasdaq's equity token design is anticipated in the first half of 2027.

      While there have been reports of a $100 million equity investment from Nasdaq at a $21 billion valuation, the partnership primarily involves a technology and infrastructure arrangement rather than a direct equity stake. Payward's xStocks tokenized equities product has already seen significant activity, accumulating over $25 billion in total transaction volume since its launch, with more than $4 billion occurring on-chain.

      In addition to the partnership with Nasdaq, Payward has secured a separate $100 million credit facility for its NinjaTrader unit from Gulf Partners Group. This financial backing may have contributed to some confusion regarding the nature of the Nasdaq collaboration. Payward, which filed confidentially for an initial public offering (IPO) in November 2025, has postponed its IPO to mid-2027, citing current market conditions. The company reported adjusted revenue of $508 million for the second quarter of 2026, marking a 17% increase year-over-year, while platform assets reached $40 billion during the same period.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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