Nasdaq Invests $100M in Kraken Parent Company: Report 

Bitcoin Magazine Nasdaq Invests $100M in Kraken Parent Company: Report  Nasdaq Inc.

is investing $100 million in crypto exchange Kraken’s parent company, Payward, according to reports.  The deal — not yet announced by either party — will help build out structure for tokenized stocks, Bloomberg reported Thursday, citing people familiar with the matter.

The deal values the crypto company at $21 billion, according to the report.  It comes as Wall Street increasingly eyes up bitcoin and crypto-related infrastructure.

Kraken has made deals this year and last with traditional finance firms and the S&P Dow Jones Indices in March made a deal to debut a new derivative contract on decentralized exchange Hyperliquid.  Bloomberg’s report said that Kraken will distribute Nasdaq’s tokenized stocks on its own platform, giving customers the ability to own Nasdaq-listed stocks in a tokenized form.  Wall Street has been eying up crypto companies and their infrastructure particularly because its interested in tokenizing assets like stocks.  In January, the New York Stock Exchange said it was building a platform allowing traders to buy and sell tokenized versions of US-listed equities and exchange-traded funds and settle those trades on the blockchain, 24/7.