Payward, the infrastructure platform behind the Kraken exchange, has announced a partnership with Nasdaq to develop tokenized equities. The collaboration aims to leverage Kraken‘s xStockz product to support Nasdaq’s issuer-sponsored equity tokens. This initiative intends to bridge traditional capital markets with blockchain-based systems, building on xStockz’s reported transaction volume exceeding $25 billion.
Payward, the company behind the crypto exchange Kraken, is partnering with Nasdaq on tokenized equities. The goal is to further connect traditional capital markets with blockchain-based financial systems.
xStockz is Kraken‘s tokenized equity product that will support this initiative. It is designed as a permissionless infrastructure layer for Nasdaq’s issuer-sponsored equity tokens.
Tokenized assets like stocks and commodities have gained attention recently. Crypto-powered exchanges enable 24/7 trading, unlike many traditional venues.
According to the official release, the project builds on xStockz adoption. The product has already surpassed $25 billion in total transaction volume.
Kraken will act as a distribution partner in this arrangement. Arjun Sethi, co-CEO of Payward and Kraken, provided a statement on the development.
He stated, “Tokenization upgrades market infrastructure at the asset layer by allowing equities to exist as programmable financial instruments that can operate across both regulated capital markets and open blockchain networks.” Sethi noted that today most equities sit inside brokerage systems with limited utility.
This move signals increasing industry institutionalization and a shift toward traditional assets. Kraken also recently became the first company to receive a Fed Master account.
