Kraken Parent Pushes Q2 2027 IPO Amid Weakened Crypto Market

Payward, the parent company of Kraken, has pushed its initial public offering (IPO) to Q2 2027 at the earliest. This is according to CoinDesk, which cited two people familiar with the matter.

The IPO process had already been delayed from November 2025 and was paused in March as crypto prices and trading activity weakened.

Payward reported a mixed operating quarter, with adjusted revenue rising 17% year-over-year to $508 million, but total platform transaction volume falling 13% to $310 billion.

The company has kept spending on businesses outside Kraken's core spot exchange, including the acquisition of Bitnomial and Reap, which expanded Payward across regulated derivatives, payments, and embedded wallets before the public listing.