Nasdaq Partners with Payward to Tokenize Equities by 2027
Summary
Nasdaq has announced a strategic partnership with Payward to facilitate the tokenization of equities, with plans for DLT-based services to be operational by the first half of 2027. This development follows a recent announcement of a partnership with crypto exchange Kraken for the same tokenization initiative, reinforcing Nasdaq's aggressive push into distributed ledger technology. This move is significant as it signals Nasdaq's commitment to modernizing equity markets through blockchain, potentially creating new revenue streams and strengthening its competitive stance in the evolving digital asset ecosystem. Traders should monitor further updates on the development and implementation of the xStocks platform and any additional partnerships in this strategic area.
At the time of this announcement, NDAQ was trading at $88.05 on NASDAQ in the Finance sector, with a market capitalization of approximately $50.1B. 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: Wiseek News.