Nasdaq Invests $100M in Kraken Parent Payward

Summary

Mark Greenberg, CCO of Payward, discusses Nasdaq's $100 million investment in Kraken's parent and the partnership to bring tokenized equities on-chain, expand xStocks, surveillance, and data. He argues tokenization is mainstream and will change financial markets, and outlines Kraken's shift toward multi-asset and B2B infrastructure. He declines to comment on Payward's 2027 IPO timeline beyond a confidential S-1 filing.

• Nasdaq invested $100 million in Payward, Kraken's parent company.
• The partnership covers Nasdaq equity tokens, xStocks, market surveillance, data, and expansion to more markets.
• Mark Greenberg says tokenization will change financial markets and is now mainstream.
• Kraken is shifting from crypto-only to multi-asset, multi-business lines including banking and asset management.
• Kraken is building B2B services to power tokenization for other companies.
• Payward has filed a confidential S-1 and plans an IPO in 2027; Greenberg did not comment further.