Nasdaq Invests $100 Million in Kraken Parent Company Payward at $21 Billion Valuation
(22 days ago) · 1 source · Summarized by CryptoBipto
Nasdaq has reportedly invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken, at a valuation of $21 billion. The investment represents a notable move by a major traditional stock exchange operator into the crypto exchange space.
WHY IT MATTERS
Think of Nasdaq as one of the biggest traditional stock markets in the world — it is where companies like Apple and Google are listed for trading. Kraken is one of the oldest and largest cryptocurrency exchanges, which is a platform where people buy and sell digital currencies like Bitcoin. When Nasdaq invests directly in the parent company of a crypto exchange, it shows that established financial institutions are becoming more financially intertwined with the crypto industry. A valuation of $21 billion means that investors believe the company is worth that much overall, similar to how a house appraisal estimates a home's value. For newcomers to crypto, this kind of investment illustrates how the boundaries between traditional finance and the crypto world are increasingly overlapping.
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