Nasdaq Partners Kraken for Tokenized Stock Push, Targets 2027 Launch
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Nasdaq, Inc. has announced a strategic partnership with crypto exchange Kraken to advance its tokenization initiative, aiming to offer tokenized stocks and exchange-traded products. Kraken will act as a distribution partner, making these tokenized versions available to its global customer base. This move builds on Nasdaq's prior efforts, including a September request for SEC approval to trade tokenized securities, and focuses on enhancing corporate governance and issuer needs. The partnership signifies Nasdaq's material commitment to leveraging blockchain technology to modernize financial markets, potentially opening new revenue streams and strengthening its long-term competitive position. The framework is anticipated to launch in early 2027, pending regulatory approvals.
At the time of this announcement, NDAQ was trading at $87.35 on NASDAQ in the Finance sector, with a market capitalization of approximately $50.3B. The 52-week trading range was $64.84 to $101.79. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.