Nasdaq Partners With Kraken for Tokenized Stock Trading

Nasdaq is taking a new step toward blockchain-based finance. The exchange operator has partnered with crypto exchange Kraken’s parent company Payward to build a system for tokenized stock trading. The goal is to allow investors to trade blockchain versions of stocks and exchange-traded products. Unlike traditional markets, these tokenized assets could trade 24 hours a day, seven days a week.

According to WSJ, Nasdaq is partnering with crypto exchange Kraken to develop a framework for tokenized stock trading, enabling 24/7 trading of blockchain-based versions of listed equities, with the initiative expected to launch around early 2027 pending SEC approval.…

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However, the plan will still need approval from the U.S. SEC. If approved, the platform could launch around early 2027. The project shows how traditional financial firms and crypto firms are starting to work more closely together.

Plan Aims to Bring Stocks to Blockchain

Under the plan, companies listed on Nasdaq could issue tokenized versions of their shares. These tokens would represent real stocks but would exist on a blockchain network. This means investors could buy and sell them in digital markets instead of only through traditional exchanges.

In theory, tokenized stocks could trade at any time. Today, stock markets follow strict trading hours. For example, U.S. markets close overnight and on weekends. Blockchain-based assets don’t have these limits. Because of this, tokenized shares could allow continuous trading around the clock. Nasdaq said the system will also work for other exchange-traded products such as ETFs.

Partnership Focuses on Investor Rights

Nasdaq says the project will focus on protecting shareholder rights. The exchange wants tokenized shares to behave the same way as traditional shares. This means investors should still receive dividends, vote in company decisions and take part in corporate actions.

The system may also help automate some of these processes. For example, blockchain technology could simplify proxy voting and dividend payments. By using smart contracts, some actions may happen automatically when certain conditions are met. The goal is to make stock ownership easier while keeping the same legal protections investors already have.

Kraken May Distribute Tokenized Shares Globally

Kraken’s parent company, Payward, will play an important role in the project. The crypto exchange may help distribute tokenized shares to international investors, especially outside the United States. Reports suggest the tokens could first become available in Europe and other global markets. 

Kraken already has experience with tokenized assets. In 2025, the company introduced tokenized versions of major stocks such as Apple and Tesla on its platform. Because of this experience, Nasdaq sees Kraken as a strong partner for building the new system.

Tokenized Assets Could Transform Markets

Many experts believe tokenization could change how financial markets work. Instead of using traditional systems, assets could move on blockchain networks. This could make markets faster, more transparent and easier to access globally. Some analysts even predict that trillions of dollars in assets could become tokenized over the next decade.

For now, Nasdaq’s plan is still in the early stages. The exchange must first receive approval from regulators before launching the platform. Still, the partnership shows that traditional finance and crypto technology are slowly moving closer together.