Nasdaq Ventures will invest $100 million in Kraken parent Payward, valuing the company at $21 billion.Payward will deploy Nasdaq’s market surveillance technology across its crypto, equity, futures, options and tokenized equity venues.Nasdaq and Payward expect Nasdaq Equity Tokens to launch in the second quarter of 2027.The companies began working together in March to connect regulated equity markets with blockchain networks through the xStocks ecosystem.