Crypto Wave on the Brink? Why Kraken is Calling Off its IPO Now - BTC-ECHO
Article excerpt
Featured image: picture alliance Payward, the parent company of the US-based crypto exchange Kraken, is postponing its IPO. According to insider reports, the company now apparently plans the IPO only for the second quarter of 2027. Already in March, the company temporarily put its multi-billion dollar plans on hold because difficult market conditions also burdened trading volumes and valuations across the entire crypto sector. Although the crypto industry expected a wave of new listings after the successful stock market debuts of Circle and Bullish in 2025, the bear market is significantly dampening demand. Other crypto pioneers like Grayscale, Consensys, and Ledger also postponed their IPO plans. Originally, Payward submitted its S-1 registration draft to the US Securities and Exchange Commission (SEC) in November 2025, shortly after raising 800 million US dollars at a valuation of 20 billion US dollars with the participation of Citadel Securities. Regardless of the IPO delay, Payward is further expanding its business beyond crypto trading, according to Coindesk. Through acquisitions and product launches, the company expanded its offerings to include derivatives and tokenized stocks, as well as payment infrastructures. Operationally, the company recorded an adjusted revenue of 508 million US dollars in the second quarter, which corresponds to an increase of 17 percent. The...
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Only recently, Kraken also expanded its offering for European customers to include trading in US stocks.
