Nasdaq: $100M Investment in Payward at $21B Valuation

Nasdaq ($NDAQ) committed $100 million to Payward, the parent of cryptocurrency exchange Kraken, at a $21 billion valuation, per the Bloomberg-sourced report. The deal underscores institutional capital flows into major crypto platforms and aligns with rising demand for regulated exchange infrastructure in 2026. Analysts tracking Nasdaq crypto investment strategy and Kraken exchange parent valuation note this as a direct equity play rather than a partnership announcement.