Kraken is one of the world's largest crypto exchanges. Its parent Payward has been collecting checks from traditional finance fast: Deutsche Börse put in $200M in April, now Nasdaq's venture arm adds $100M — valuing Payward at $21 billion.
The deal has Kraken listing tokenized Nasdaq stocks on its own platform. A legacy exchange paying a crypto venue to become its storefront — not a sentence that would have made sense two years ago.
The full tokenized-stock market sits at $2.9B today, per
RWA.xyz, up 7.4% in a month. Modest — until it isn't.Cointelegraph