Adena Friedman

Money Moves

Leads the exchange operator's push into digital infrastructure

Nasdaq's venture arm committed $100 million to Payward, parent of the Kraken exchange, backing a framework called Nasdaq Equity Tokens that would put publicly listed stocks on round-the-clock blockchain rails. The investment, reported by Bloomberg at a $21 billion valuation, deepens a partnership first announced in March and adds a market surveillance agreement across Payward's venues.

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