TLDR Tech / Fintech
Why Nasdaq invested $100MM in Kraken at $21B valuation
The venture arm of Nasdaq announced it is investing $100M into Payward, the parent company behind crypto exchange Kraken, at a $21B valuation. The deal strives to make Kraken a major distribution platform for Nasdaq's tokenized equities, which are set to go live in 2027. This comes as the asset class hit a record $6B in monthly on-chain trading volumes in August.
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