Kraken Parent Payward Pushes Back IPO to Q2 2027 Amid Market Volatility
Payward, the parent company of cryptocurrency exchange Kraken, has delayed its initial public offering (IPO) to the second quarter of 2027 at the earliest. The delay is a result of difficult market conditions and follows an earlier pause in IPO plans in March 2026.
Despite the postponement, Payward's financial results show growth. In Q2 2026, the company reported $508 million in adjusted revenue, up 17% from the same period a year earlier. Adjusted EBITDA was $23 million for the quarter, and assets on its platform reached about $40 billion.
Payward has also made significant progress in expanding beyond traditional cryptocurrency trading through acquisitions and partnerships. It recently partnered with the London Stock Exchange Group to explore tokenized UK-listed shares, which will be offered through a new trading venue planned for 2027.