Nasdaq announced a strategic partnership with Kraken’s parent company Payward to develop tokenization infrastructure, targeting growing demand for blockchain-based financial assets.
Tokenization converts traditional assets—such as stocks, bonds, funds, and real estate—into digital tokens that can be traded and settled on blockchain networks.
Nasdaq previously sought approval from the U.S. Securities and Exchange Commission to allow trading of securities in either traditional digital or tokenized formats.
Institutional adoption has accelerated following the GENIUS Act, which strengthened regulatory clarity for digital asset infrastructure and blockchain-based financial products.
Major industry players are moving quickly. Robinhood, Gemini, and Kraken have already launched tokenized stocks in Europe.
Meanwhile, Coinbase and fintech startup Dinari are seeking regulatory approval to introduce similar tokenized equity products in the United States.
Under the new collaboration, Nasdaq will integrate Payward’s xStocks platform, enabling institutional securities to move from traditional trading systems onto blockchain networks.
Nasdaq also partnered with Boerse Stuttgart’s tokenization settlement platform to expand trading of blockchain-based equities across Europe and advance a more always-on financial ecosystem.
