Kraken's Parent Company Builds Crypto Gateway for Wall Street

Kraken's parent company, Payward, is building infrastructure for Wall Street to access cryptocurrencies, while putting its own initial public offering (IPO) on hold until at least mid-2027. This move comes as part of a larger effort to tokenize shares from the London Stock Exchange and Nasdaq.

In September, Payward partnered with the London Stock Exchange to advance the tokenization of UK equity markets. The 100 largest London-listed companies will be converted into xStocks, tokens backed one for one by real shares, and traded on LSE 24, a round-the-clock venue. This move will bring 24/7 programmable access to investors in over 110 countries.

Prior to this, Nasdaq signed a similar deal with Payward in March to build a gateway that would allow tokenized shares to cross between regulated venues and public blockchains. The launch of this project is targeted for the first half of 2027.