Payward Delays IPO to Q2 2027 After Second Postponement
Payward, Kraken's parent, delays its IPO to no earlier than Q2 2027 following a confidential SEC filing and $800 million raise at $20 billion valuation.
Payward, the parent company of the Kraken cryptocurrency exchange, stated it will not go public until the second quarter of 2027 at the earliest. This marks the second postponement of its planned initial public offering.
The company made a confidential filing with the U.S. Securities and Exchange Commission in November 2025, shortly after Bitcoin reached an all-time high of $126,000. Its most recent funding round raised $800 million at a $20 billion valuation.
For the second quarter, Payward reported revenue of $508 million, an increase of 17 percent from the prior year, with funded accounts on the Kraken exchange rising 42 percent to 6.6 million.
What remains unknown
The March delay cited difficult market conditions and declining cryptocurrency prices. Specific reasons for the latest postponement beyond general market context remain unstated, and the exact timeline after the second quarter of 2027 is undisclosed.