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Scott Melker discusses Nasdaq’s $100 million investment in Payward, the parent company of cryptocurrency exchange Kraken, to fund tokenized stocks.
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Nasdaq invests $100 million in Kraken parent payward for tokenized stocks. We have a story about Kraken parent payward seemingly every every day. These guys are balling.
This $100 million investment comes at a $21 billion valuation. So, one of the big stories recently was that Kraken has delayed their IPO once again, waiting for better market conditions, but that’s not stopping them from massively growing in the private market. $21 billion valuation.
Now, interestingly, these two have already been working together quite a bit on X stocks, which is the tokenized stock offering from Kraken. So, this is really a furthering of an existing partnership by offering this massive uh investment to continue building tokenized stocks.
So, Nasdaq wants to build a tokenized stock platform where the products represent ownership uh in actual listed shares, including the same voting rights as conventional shareholders, which does not yet necessarily exist with the existing products.
But we know that the entire world is moving towards tokenizing everything. All <a href="https://xpertsstudio.com/why-a-new-sec-plan-could-end-the-legal-headaches-of-holding-tokenized-securities/” title=”Why a new SEC plan could end the legal headaches of holding tokenized securities”>securities markets are moving towards tokenized, all stocks will be tokenized. The GTCC themselves will be settling tokenized stocks instead of the old representation. So, this is a natural move.
But if you were wondering if the biggest markets on the planet, Ice, for example, who owns the New York Stock Exchange, investing in OKX and doing something similar, Nasdaq investing in Kraken, this is coming and it is coming really, really, really fast.
So, I find this just a an astounding time to be alive, you know, really really like the amount of investment in crypto right now is absolutely massive.
Nasdaq and Kraken here are wanting obviously to put more stocks on chain.
Source: finance.yahoo.com