Payward Delays Kraken IPO Again Amid Crypto Market Downturn

Kraken's parent company, Payward, has delayed its initial public offering (IPO) until at least Q2 2027 due to unfavorable market conditions. This is the second consecutive delay, following a postponement in March 2026 when falling cryptocurrency prices and weak trading volumes made it difficult for the company to proceed with the IPO.

The delay is another sign of cooling in the crypto IPO market, as investors become increasingly cautious about listing their companies amid declining cryptocurrency prices and sluggish trading volumes. In contrast, last year's successful debuts by Circle (CRCL) and Bullish (BLSH) had raised hopes for a wave of public listings.

Kraken is currently working on obtaining a full banking license in Europe, which would make it the first crypto exchange with such a status in the region. The company's plans to obtain this license were reported in July 2026, and if successful, it could pave the way for Kraken to offer a full range of banking services across the European Economic Area (EEA).