Payward Unveils Ambitious Plan to Revolutionize Financial Infrastructure

Kraken's parent company, Payward, is expanding its reach beyond cryptocurrency exchanges. With a unified platform that includes trading, payments, banking services, asset management, and infrastructure for other financial companies, Payward aims to become a comprehensive financial foundation.

Arjun Sethi, co-CEO of Payward and Kraken, describes the company's strategy as shifting from separate products to a single financial platform. This approach is focused on creating a 'unified ledger' that allows client funds and assets to be used across different products within a single infrastructure.

The key element of this strategy is blockchain technology, which enables assets to move without intermediaries, reducing delays and fees. Payward believes traditional finance still relies on outdated processes, such as securities settlements taking time and markets closing at night and weekends.

Payward's model is distinct from competitors like Coinbase and Binance, which are also expanding their product lines. Unlike these companies, however, Payward is building regulated infrastructure for different brands, client segments, and partner channels.