Nasdaq and Kraken Partner to Bring Tokenized Equities to Global On-Chain Markets

Highlights:

• Nasdaq and Kraken have partnered to develop a regulated gateway for tokenized stock trading.
• Nasdaq is planning a new infrastructure that connects stock markets with blockchain systems.
• Tokenized shares will provide investors with the same voting rights as traditional shares.

Nasdaq has partnered with Payward, the parent company of Kraken, to advance tokenized equity development. The exchange is also working with Backed, the issuer behind the xStocks ecosystem. The companies are developing an equities transformation gateway designed to support tokenized securities. Nasdaq said the system will connect traditional exchange infrastructure with blockchain networks.

Advertisement

💥BREAKING: Nasdaq is partnering with Kraken to develop tokenized stocks and ETFs that can be traded 24/7 on blockchain infrastructure.

The initiative, expected to launch around 2027, would allow investors to trade tokenized equities at any time while retaining the same rights… pic.twitter.com/xEcSMyCZbd

— Pi News (@PiNewsMedia) March 9, 2026

The gateway will allow tokenized equities to move between regulated markets and global on-chain environments. Nasdaq said the structure preserves issuer control over securities. It also maintains regulatory compliance and price integrity between tokenized shares and traditional stock.

Tal Cohen, President of Nasdaq, said, “Tokenization has the potential to unlock the benefits of an always-on financial ecosystem. It can enhance how investors access markets and how issuers engage with shareholders. Public companies should remain at the center of the equity market ecosystem.”

Nasdaq designed the gateway to integrate its market infrastructure with the xStocks ecosystem. The system aims to create interoperability between traditional financial systems and decentralized networks. Nasdaq said it will work with issuers, transfer agents, regulators, and market infrastructure providers as the framework develops.

Participation in the program will remain voluntary. Nasdaq said issuers will decide whether to adopt tokenized equity structures. The exchange expects the framework to expand as more market participants join the development.

Tokenized Shares Will Carry the Same Rights as Traditional Stocks

Nasdaq said tokenized shares will provide the same governance rights as traditional stock. Investors will receive dividends from issuing companies. Token holders will also vote in proxy ballots during shareholder meetings.

The exchange plans to automate parts of corporate actions using blockchain infrastructure. Dividend payments may move through automated settlement systems. Proxy voting processes may also run through digital records maintained on-chain. Nasdaq said tokenized and conventional shares will remain interchangeable. Both versions of the security would settle through the Depository Trust system. The exchange said this structure allows both forms of the asset to share the same CUSIP identifier.

Kraken will serve as a distribution partner for the initiative. Kraken will offer tokenized versions of public company shares to its customers through this role. Nasdaq said the distribution will focus on users outside the United States. International investors, including those in Europe, could access tokenized equities through the platform.

Nasdaq said the framework will remain open to participating issuers. Companies listed on Nasdaq may adopt tokenized securities through the system. The exchange said other issuers could also join if they meet regulatory requirements.

Nasdaq and Kraken Partner to Develop Infrastructure for Stock Trading

Nasdaq and Kraken have partnered to issue and distribute tokenized versions of stocks and exchange-traded products. The companies are working to connect regulated exchange markets with digital asset networks.

Nasdaq previously submitted a proposal to the U.S. Securities and Exchange Commission seeking approval for tokenized securities trading. The proposal would allow investors to trade tokenized versions of listed stocks alongside traditional shares. Nasdaq said both versions would operate within the exchange environment. The exchange expects the tokenized equity framework to become operational in the first half of 2027.

Competition around tokenized equities isgrowing among major exchange operators. Intercontinental Exchange recently invested in the crypto exchange OKX. The agreement includes plans to introduce tokenized stocks tied to NYSE-listed companies in 2026.

🚨HUGE: NYSE PARENT COMPANY IS BETTING BIG ON CRYPTO

Intercontinental Exchange (ICE), the parent company of NYSE, invested in @okx's newest funding round which valued the firm at a staggering $25 billion.

But this isn't the first big crypto play it has made…

ICE also made a… pic.twitter.com/qRfjSjnmbB

— BSCN (@BSCNews) March 6, 2026

In a related development, Nasdaq also partnered with Boerse Stuttgart Group’s Seturion platform to support tokenized settlement infrastructure in European markets.

Advertisement