Nasdaq deepens Kraken ties with proposed $100 million Payward investment

Nasdaq has agreed to invest $100 million in Payward, the parent company of Kraken, while Payward plans to adopt Nasdaq market-surveillance technology across its trading businesses. The two moves add capital and market-integrity infrastructure to an existing partnership focused on tokenized equities.The proposed investment, made through Nasdaq Ventures, gives the relationship a new financial dimension. Nasdaq and Payward also said they will continue developing the operational and commercial systems for planned Nasdaq Equity Tokens, or NETs.According to the companies' announcement, Payward will deploy Nasdaq surveillance tools across a portfolio of trading venues that includes crypto, equities, tokenized equities, futures and options. That expands the relationship beyond the planned distribution and settlement framework for NETs and into technology used to monitor trading across several markets.The announcement describes an agreement to invest, not a completed transaction. It does not disclose a closing date, Payward valuation, ownership percentage or governance rights for Nasdaq. The available terms therefore do not establish how much influence Nasdaq could gain over Payward.The par...