Kraken Parent Payward Reaches $21 Billion Valuation with Fresh $100 Million Raise
Payward, the parent company of Kraken, has secured $100 million in funding through a strategic round that values the business at $21 billion.
The valuation places Payward among the most highly valued private crypto companies, following a trend of large private valuations across major exchanges this year.
Kraken, one of the longest-operating cryptocurrency exchanges in the United States, has expanded its offerings beyond spot trading to include tokenized equities and derivatives products aimed at institutional clients.
The strategic funding round typically involves investors who bring a business relationship or partnership alongside their capital, suggesting that Payward will use the funds for specific product integrations or market access rather than just valuation purposes.