Nasdaq and Kraken to Launch 24/7 Tokenized Stock Trading by 2027

 Key Insights:

• xStocks framework allows tokenized equities to move between regulated markets and decentralized blockchain networks.
• Payward Services ensures KYC and AML compliance for participants using the new gateway.
• Nasdaq equity token design preserves issuer control while enabling continuous, on-chain stock trading globally.

Nasdaq has teamed up with Kraken to develop a framework for tokenized stock trading. The collaboration will combine Nasdaq’s regulated market structure with Kraken’s xStocks system. The goal is to create a gateway connecting traditional equity markets with decentralized blockchain networks. The project is expected to start operations in the first half of 2027, pending regulatory approval.

Bridging Traditional and Blockchain Markets

According to the press release, the partnership will let tokenized stocks move between Nasdaq’s regulated markets and open blockchain networks in eligible regions. Kraken’s xStocks platform will act as the backbone for the decentralized side, supporting on-chain settlements while keeping the trades aligned with traditional market rules.

Payward Services, part of Kraken, will manage KYC and AML checks for participants using the gateway. This ensures compliance with local regulations. xStocks has already recorded more than $25 billion in transaction volume since its launch, including $4 billion settled on-chain. Over 85,000 holders currently use the platform across supported networks.

Nasdaq Equity Token Design

Nasdaq is developing a new equity token design to maintain issuer control and preserve shareholder rights. Kraken and Payward will handle settlement for these tokenized equities. The system will allow shares to operate across both regulated and blockchain networks while keeping compliance intact.

Arjun Sethi, Co-CEO of Payward and Kraken, said, 

“Tokenization upgrades market infrastructure at the asset layer by allowing equities to exist as programmable financial instruments that can operate across both regulated capital markets and open blockchain networks.”

 He also said,

 “With xStocks, our goal is to make equities natively interoperable across trading venues, financial applications, and blockchain networks while preserving issuer rights, regulatory protections, and price integrity.”

Moving Toward Continuous Trading

The gateway is designed to let assets move freely between institutional and decentralized markets. This approach aims to increase efficiency in trading and settlement while supporting more global access. Nasdaq expects the equity token system to go live in the first half of 2027. The collaboration marks a step toward continuous, 24/7 trading of blockchain-based stocks, linking established markets with new digital infrastructure.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Olivia Stephanie

09 March 2026, 12:26:08 GMT +0000

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