Nasdaq and Kraken (Payward) tokenized stock launch
⚠ The date is not confirmed yet and may change.
Nasdaq, working with Kraken's parent company Payward, expects to launch its own issuer-controlled tokenized stocks in the second quarter of 2027. The date is tentative, and no specific coins are tied to the launch.
What is happening
Nasdaq is developing stock tokens together with Payward, the parent company of the crypto exchange Kraken. According to the source, the product is expected to go live in the second quarter of 2027 and is designed to put issuers, meaning the listed companies themselves, in charge of how their shares are tokenized. The timing is an expectation rather than a confirmed date, so it may change.
The plan comes against the backdrop of the OKXICE venture, a joint project of the crypto exchange OKX and Intercontinental Exchange, the operator of the New York Stock Exchange. OKXICE intends to trade tokenized U.S. stocks around the clock under the Securities and Exchange Commission's "innovation exemption," which lets such venues operate for five years without registering as an exchange. Under that exemption, a company has 30 days to object in writing if an outside party tokenizes its stock, and an objection bars trading of that token on the venue.
Reports say 67 U.S. companies, including Apple, Nvidia, Microsoft, Amazon, Meta, Tesla and JPMorgan, have objected, leaving only six of the 62 originally planned names, all from the crypto sector. An executive at a Nasdaq-listed company told a newsletter that Nasdaq had advised objecting. Nasdaq did not comment on that but is reported to consider the new venues the wrong path, favoring its own issuer-led model with Payward.
Why it matters
The Nasdaq and Payward launch would offer a different structure for tokenized equities: one where the issuer controls the tokenization instead of a third party creating tokens without the company's involvement. For market participants, the contrast between the two models, and which one companies are willing to support, may shape how tokenized stocks develop in the United States.
For holders and traders, the practical questions are which stocks become available, who can access them, and how shareholder rights, custody and market transparency work in practice. Since the schedule is tentative, any plans that depend on this launch should allow for the date to shift.
Key details
- Date: Second quarter of 2027 (quarter precision; exact day not set)
- Project: Nasdaq / Payward (Kraken)
- Coins: None specified
- Category: Product Release
- Status: Tentative; date not confirmed
- Source: https://www.trendingtopics.eu/tokenized-stocks-67-us-companies-block-okx-ice/