Kraken Parent Payward Postpones IPO Amid Crypto Market Volatility
Payward, the parent company of American crypto exchange Kraken, has delayed its initial public offering (IPO) until at least the second quarter of 2027. The delay is due to difficult market conditions that have weighed on crypto prices and trading volumes.
The Wyoming-based company had confidentially filed a draft S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) in November 2025 for a proposed offering of its common stock, valued at $20 billion after raising $800 million from investors.
Prior to shelving the IPO, Payward reported adjusted revenue of $508 million for the second quarter, up 17% from a year earlier, with funded accounts rising 42% to 6.6 million and assets on the platform standing at $40 billion.