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Payward pushes Kraken parent IPO to Q2 2027 at earliest

The Kraken parent’s IPO timeline was moved out after it already froze plans earlier this year due to tougher crypto market conditions.

Reported · Written up by our desk · Market Structure

Payward, the parent company of US crypto exchange Kraken, is targeting an initial public offering in the second quarter of 2027 at the earliest, according to a source cited by CoinDesk.

CoinDesk reports the company confidentially filed a draft registration statement with the SEC in November 2025 after raising $800 million at a $20 billion valuation, but it had already put its IPO plans on hold in March as difficult market conditions weighed on crypto prices, trading volumes and valuations.

The delay further extends a long wait for one of the crypto industry’s closely watched public market debuts, as the broader market for crypto IPOs cools in 2026.

CoinDesk also notes that weaker crypto prices and trading volumes, along with poor aftermarket performance for some recent listings, have led other crypto firms including Grayscale, Consensys and Ledger to postpone IPO-related plans.

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