Payward, the parent company of crypto exchange Kraken, has delayed its initial public offering until at least the second quarter of 2027, according to two sources cited by CoinDesk yesterday. The company filed a confidential draft registration statement with the SEC in November 2025 after raising eight hundred million dollars, including a two hundred million dollar investment from Citadel Securities at a twenty billion dollar valuation. However, Payward paused IPO preparations in March as crypto prices and trading activity declined.
Deutsche Börse invested two hundred million dollars in April at a thirteen point three billion dollar valuation, representing a thirty-three percent drop from the November figure. Second quarter results showed adjusted revenue of five hundred eight million dollars, up seventeen percent year over year, but total platform transaction volume fell thirteen percent to three hundred ten billion dollars. Payward has not disclosed exchange details, ticker symbol, share count, or pricing for the potential offering. The Q2 2027 timeline represents the earliest possible window, not a firm commitment.
FXnCO Insight
Traders should monitor crypto market volatility closely, as Payward’s extended timeline signals institutional caution about listing conditions through early 2027.
Source: Finance Magnates