Nasdaq Partners with Kraken to Strengthen Its Tokenization Strategy

BlockBeats News, March 9th, according to The Wall Street Journal report, Nasdaq announced that it would collaborate with the cryptocurrency exchange Kraken and related issuing companies to develop a plan to offer tokenized stocks and Exchange-Traded Products (ETPs) on its exchange.

The framework is expected to launch in early 2027, focusing on utilizing blockchain technology to streamline corporate governance processes (such as automated proxy voting and dividend payments) and granting token holders equal governance rights as underlying security holders.

In this partnership, Kraken will act as a distribution partner, offering its European and global customers tokenized versions of listed company stocks pegged 1:1 to the stock.

Currently, Nasdaq is awaiting final approval from the U.S. Securities and Exchange Commission (SEC) to allow investors to trade tokenized versions of high liquidity stocks like Nvidia or Tesla on its existing platform, with the tokens and traditional stocks sharing the same CUSIP number for seamless interchangeability. With the U.S. passing the stablecoin bill named the Genius Act last year, traditional financial giants including the New York Stock Exchange (NYSE), BlackRock, and JPMorgan Chase have all accelerated their efforts in the tokenization field.