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Nasdaq to invest $100 million in Kraken parent Payward, eyes tokenised stock trading in 2027

Nasdaq will invest $100 million in Payward, the parent of crypto exchange Kraken, and plans to launch tokenised shares in 2027. The two companies aim for a second-quarter rollout and will build infrastructure for the distribution and trading of tokenised stocks, along with market surveillance technology. CNBC reported debate continues over what tokenised shares mean and what rights holders receive because they do not directly own the underlying assets.