Nasdaq and Kraken Partner to Advance Tokenized Stock Ecosystem

Nasdaq, the world's second-largest stock exchange by market capitalization, is collaborating with Kraken, a US-based cryptocurrency exchange platform, and Backed, a subsidiary of its parent company Payward, to jointly build the infrastructure for tokenized equities. This partnership focuses on creating a two-way gateway connecting traditional financial markets with blockchain networks, aiming to achieve seamless circulation of tokenized stocks while ensuring that issuer rights, regulatory compliance, and market price stability remain unaffected. Nasdaq President Tal Cohen stated that tokenization technology has the potential to reshape the financial ecosystem, making it easier for investors to participate in the market and for companies to interact more efficiently with shareholders. By connecting Nasdaq's market system with the xStocks ecosystem, this gateway will promote interoperability between centralized financial systems and decentralized networks, providing traditional listed companies with a new channel to global capital markets.

Source: Kraken It is reported that Nasdaq plans to gradually introduce more issuers, transfer agents, regulators, and market participants in the future to jointly improve the framework of tokenized equities, with all participation being voluntary. The plan is expected to officially launch in the first half of 2027 and open relevant services to issuers. Cohen emphasized that public companies should always be at the core of the equity ecosystem. The issuer-led tokenization solution launched this time aims to strengthen the autonomy of enterprises while enhancing the accessibility and liquidity of the US stock market globally.