Nasdaq is investing $100 million in Payward, the parent company of Kraken, in a transaction valuing the private financial infrastructure company at $21 billion. The investment is being made through Nasdaq's venture arm and deepens a partnership already centered on moving regulated equities onto blockchain-based settlement infrastructure. The $21 billion valuation places Payward above the $20 billion equity value used in several transactions earlier this year and comes as Kraken continues preparations for a potential public listing. The exchange confidentially…
