# Nasdaq Invests in Kraken Parent Payward at $21 Billion Valuation

> **Newsylist Open Intelligence Dossier** · First detected: 2026-09-10 13:29 UTC · Category: Business · Sources: 8 · Current Velocity: 31.82

## Executive Summary
Nasdaq is investing $100 million in Kraken parent Payward at a $21 billion valuation to expand tokenized stocks.

## Intelligence Brief
A $100 million investment by Nasdaq into Kraken parent Payward establishes a $21 billion valuation for the cryptocurrency exchange's parent company. Tokenized stock trading and always-on infrastructure form the core of the newly deepened relationship between the two entities, with CNBC noting a planned 2027 launch for tokenized stock trading.


Bloomberg, Reuters, CNBC, CoinDesk, and qz.com report on the $100 million backing, while Moomoo and The Manila Times carry press release announcements emphasizing the push toward tokenized equities and infrastructure advancement. Separately, GuruFocus analysis evaluates Nasdaq valuation metrics using DCF and GF Value models.


Coverage does not yet specify additional financial terms or the exact operational milestones leading up to the anticipated 2027 launch.

## Verified Facts & Key Claims
### What is the valuation of Payward following the investment?
Payward is valued at $21 billion following the transaction.

### How much is Nasdaq investing in Payward?
Nasdaq is investing $100 million in Kraken parent Payward.

### What is the primary focus of the Nasdaq and Payward partnership?
The partnership focuses on advancing tokenized equities and always-on infrastructure, with an eye toward a 2027 launch of tokenized stock trading.

## Key People, Organizations & Locations
Nasdaq, Billion Valuation, Kraken, Payward, Nasdaq Invests, Kraken Parent Payward, Advance Tokenized Equities and Always-On Infrastructure, Press Release Nasdaq Deepens Relationship With Payward

## Multi-Source Evidence Table
| Source Outlet | Headline | Published (UTC) | Verification URL |
|---|---|---|---|
| CoinDesk | Nasdaq backs Kraken parent Payward with $100 million investment to expand tokenized stocks | 2026-09-10 10:26 | [Source Link](https://news.google.com/rss/articles/CBMizwFBVV95cUxNeFkyMlpQM0UySVNOTTFrNTc0NklVV2daTFVycERsZGgtaGo4ejhHWjYxMzl4LVEtWjVkT19QTjhFNmhkUmlldXpfcUxvSVBzRzNzdHBhcUpzWkd4Q0dMSlNjbU5PVGs4MGgwMHMyNzNsM0h5WnIzRTNSU3ZzekhaTDdhZzYxQ0hxd1NjQm9kcUh1M0lYMkdXLVM5UmxRcDhnYVJBVVdZOUs3VGpPSHZURkphNjZjbnl6V25VRHc4OWkwZVgtQVFKX2FwWVJOMFE?oc=5) |
| Moomoo | Press Release: Nasdaq Deepens Relationship With Payward to Advance Tokenized Equities and Always-On Infrastructure | 2026-09-10 10:26 | [Source Link](https://news.google.com/rss/articles/CBMiuAFBVV95cUxQQW8zWkJwaHJ2R3d1MU1YZDVkWlVxVWQ5RFdXYU9VVVBuTnFhOFl2MmVfY0RjbEoyQ0x1dWN4M2VIMnhPWmpYcVRVakM1VnFwSTNxYjgtN1JJVFVOS1c4SXBjSDJhSEZGNjdyWnFZUG9rcGtRSjNZRWFfcDZIVHdjS1dNdUZsejBHNXJVVFhpNE5LSklGRTNOeE5iLVVvSXZvc0ZaeExBSzU1VE5rY0NFNkhyNjFZUW9w?oc=5) |
| GuruFocus | Is NDAQ Overvalued? DCF Says Worth $72 | 2026-09-10 10:26 | [Source Link](https://news.google.com/rss/articles/CBMigAFBVV95cUxNU0R4ajk3dUN1TFMzWmdlS0d4bUM3YlVuN1ZQVkYxTFA4cmtjaGxtNHhGWjVGN3JnWVRyS05hWUJxaWJPVkxoaGc3QVgybWJ1V3NmT1RZdFlvak9FQW15enNoTTVuQjNjR3FsLTE5MndBbVdIRVpLcUllV1pIcDJNRw?oc=5) |
| qz.com | Nasdaq invests $100 million in Kraken parent Payward for tokenized stocks | 2026-09-10 10:26 | [Source Link](https://news.google.com/rss/articles/CBMie0FVX3lxTE0xZmxnZ1JLMFEwb1Q4NHdkMEtfeTFERjJaSHJhOEVqbW1zSFpLblRvN3Z1UmotVWpGdzkxbUw5TDM0bW14OXJkUGNHY29Bc0JxYkNvY0ducjNpYWxpa1Q4TVRGQnZad2RwU0hGNW5CeDVLWWdaOV9ZNkllaw?oc=5) |
| The Manila Times | Nasdaq Deepens Relationship with Payward to Advance Tokenized Equities and Always-On Infrastructure | 2026-09-10 10:26 | [Source Link](https://news.google.com/rss/articles/CBMigwJBVV95cUxOSDB2d0p0LWJvVjFYbjY4VkEzZ3czYjY5ZHdsLTlFay1DcWN2WDhPdXEtRjJ0bElET0xYZmFEWjNRaHQ4RkVxZTlTQjRYNDJVWTV1LVM0b0Vfdm4tS0d3WXFsM0ZXYzVTZlhMemtVSUR1QjNvTlI3Wk5Rd0FVWXFOeDdmcE9tcjBJZFZLWUl1akJtaE83N25NdHZlLV8xRmlBVkluQmRMb0w5OWUwT0tscmJQTkhtWDV0aElLQUtWNDNCSDF4bEd4WXZLaGE0U2tnTzk0bVgwRnh3UHk4cXJCaUhLZ3ZrS0xaV293Wkw0VmItQS1yVVFZMl9IbExyZ1o3SkUw0gGIAkFVX3lxTE5Yd2xJN1ROd19XQXJQZ3R5cHBGLW1RcjRRdVJPMjBqTGI2bGk5cFQwOVVPLU5qdk1LanJfSTdnbWt2dHBTSzNYZnF0eEpFQkt) |
| GuruFocus | NDAQ Looks 16.2% Overvalued on GF Value™ | 2026-09-10 10:26 | [Source Link](https://news.google.com/rss/articles/CBMiggFBVV95cUxPVG14aE5lY25Sb1d5a1FQNFJJc1NuamNTamsza2hCSG9QTHRwMFJ6Z2Zoak5DVjVpMEFqVVoxVmhOMktrdmEzU1VOMEFRQlZiYzhwQjh1UnJ3aW5PTXdTZGhoQVlrX25KSVhhWHlSNnNhQlY4XzlydlR0MUxDY1IxbFhn?oc=5) |
| Reuters | Nasdaq to invest $100 million in Kraken parent to deepen tokenization push | 2026-09-10 10:26 | [Source Link](https://news.google.com/rss/articles/CBMiuAFBVV95cUxPUUdKNXl3QUduNWtSdWdPVXZBSFVIcU5TQUpfVjRzZXlyeExXYnlKc3pNaUw2bTlLekVraTN4UGxRNU5Ybi1wUmlIUk04Q3V0U25MM1ViMVUySDgtNnZWbmR2OVctUHZPWTdvU0FNQ1VRNzJhTFZhMjBKQWlZVXVxekVfNWRhMkdpaDhPNUJHNzBkTzh5VEZ2Z1lodXVBVW1yakFTQmJ6MkFuTFhhdzRyQVVwU1ByLWZW?oc=5) |
| CNBC | Nasdaq invests $100 million in Kraken parent, eyeing 2027 launch of 'tokenized' stock trading | 2026-09-10 10:26 | [Source Link](https://news.google.com/rss/articles/CBMitgFBVV95cUxQWHRvako5T0cwb1hGVGREcmdSR3JlU3hwMm9IRlItZkZWbVlnSnMxVEFPNWFvcV9OTEg0VHNwUi1XNjZjUUxMOG55NWxEdjVDZG5lRlUwZnpzallQSE52aTB6UmRmamY1WG5MVkRHdjBsUGw3V0Jpd1FLaTdRTE5vRWdKWWRrdUJtam9lYllURkM0RlUzN2FFelN6cDRYUC1sRFJyZ2FPUVFrQTdpOURfcHIwdm9mUdIBuwFBVV95cUxOa1hwTGktckFqczNMY1RsM2VmYXY1RzF6VDVrNjBHRHU5dUZlejNqTTNWcVlxUWg5R3Y0U1p1UVlXX0swOXE2RUotdHZmWm5Tc01iZXJQQ1RRYWVGbVhqVG5xYU1QVzlnV2JrMlljaTZ5QS1GUWJyRTR2ZEpHczdvMWY1UFIzZFBITlpVbEpYZ1p5eDJPWU5zQmJaLXN) |
| Bloomberg.com | Nasdaq Invests in Kraken Parent Payward at $21 Billion Valuation | 2026-09-10 10:26 | [Source Link](https://news.google.com/rss/articles/CBMitAFBVV95cUxPMkpSemwxSFh3Yk1Ja2N3c0VEZEEyMnR0ZnhsWGdjV19QYnphMm04ZmRlaVJ0Nlh4TUxIeFNGT3pjQ0NrbTFCNkRkMVBzcEhIMEoxNEVXSkFKRFJnOXpYbkVpMVBFNmYwTk10YXpWLXhVV3lfMHFDTTF5Mks1MElUWmFIY0hQeXFnRHFQMFJ6cUpiZWhvdWYxX3duRTBid1hSRjFtQnl5ZXd3UkZOcjd0ZW5ZbzY?oc=5) |

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