Kraken parent Payward delays IPO to Q2 2027

• Kraken parent Payward has reportedly delayed its IPO until at least the second quarter of 2027.
• The company previously filed a confidential draft S-1 with US regulators in November 2025.
• Payward reported $508 million in adjusted second-quarter revenue, up 17% year on year.

Kraken parent Payward has reportedly pushed its planned IPO to the second quarter of 2027 at the earliest.

The new timeline extends a process that was already paused in March amid weaker crypto market conditions.

Payward has not publicly confirmed the new timeline, while a Kraken representative declined to comment on the report.

Payward confidentially submitted a draft S-1 registration statement to the US Securities and Exchange Commission in November 2025.

The company later raised $800 million at a $20 billion valuation, including a $200 million investment from Citadel Securities.

Payward reported $508 million in adjusted second-quarter revenue, up 17% year on year, despite lower trading volumes.

Funded accounts reached 6.6 million and platform assets hit $40 billion, while total transaction volume fell 13% to $310 billion.