Kraken Parent Payward Pushes Back IPO Plans Again Amid Crypto Market Weakness

Kraken's parent company Payward has delayed its initial public offering (IPO) for the second time in six months.

The decision reflects weak crypto prices and trading volumes industrywide, as well as poor aftermarket performance among recently listed digital-asset companies that has cooled investor appetite for new listings.

Payward filed confidentially for an IPO with the SEC in November 2025 but paused those plans in March citing difficult market conditions. The company's latest postponement comes despite a slight increase in revenue, with Payward reporting $508 million in adjusted revenue for the second quarter of 2026, up 17% year over year.

The cryptocurrency sector has been struggling, with Bitcoin trading around $77,000, down close to 39% from its all-time high. Other crypto-linked listings have fared similarly poorly, with BitGo, Bullish, and Coinbase all experiencing significant declines in their stock prices.