Nasdaq and Payward, the parent company of crypto exchange Kraken, announced on March 9, 2026 a partnership to develop infrastructure enabling tokenized equities to move between regulated stock markets and blockchain platforms. Contrary to rumors of a 100 million dollar equity investment at a 21 billion dollar valuation, this is solely a technology agreement and not a direct stake purchase. Payward’s xStocks product has already recorded over 25 billion dollars in transaction volume since launch, with 4 billion on-chain. The company has postponed its IPO to mid-2027 and reported adjusted revenue of 508 million dollars in Q2 2026, up 17 percent year-over-year.
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