Payward, the parent company of crypto exchange Kraken, has delayed its much-anticipated initial public offering (IPO) until at least the second quarter of 2027, according to people familiar with the matter. The issue is one of the crypto industry’s most closely watched public-market debuts.The person spoke anonymously because the information is private. A spokesperson for Kraken has declined to comment.
Delays have already occurred in Payward’s IPO ambitions. Due to challenging market conditions that affected cryptocurrency prices, trading volumes, and corporate valuations, the firm reportedly postponed its multibillion-dollar IPO ambitions in March. Notably, the company is still interested in going public but is waiting for market conditions to improve.
The most recent postponement is indicative of a general slowdown in the cryptocurrency IPO market. Following Circle and Bullish’s successful market debuts the year before, the industry anticipated a robust pipeline of public offerings in 2026. However, investors are now more wary due to lower cryptocurrency markets and several digital asset businesses’ poor aftermarket performance.
Several major crypto firms have also pushed back their plans. Asset manager Grayscale, Ethereum software developer Consensys and hardware wallet maker Ledger are among the companies that have postponed potential listings.
Payward confidentially submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission in November 2025. The proposed offering would involve the sale of the company’s common stock.
CoinDesk: Kraken Parent Payward Delays IPO to Q2 2027 at the Earliest
Kraken parent Payward has delayed its IPO to the second quarter of 2027 at the earliest, citing two people familiar with the matter. Payward confidentially filed a draft S-1 registration statement with the SEC… pic.twitter.com/qeEJS1aBOn
— Wu Blockchain (@WuBlockchain) September 2, 2026
The filing came after Payward secured $800 million at a $20 billion value during a significant funding round. Citadel Securities contributed $200 million to the round, providing the firm with substantial financial support as it grew. Payward has not slowed down its expansion even after postponing its aspirations for an IPO.
Payward has also been busy buying other businesses. It completed its acquisition of derivatives platform Bitnomial in May and closed the purchase of stablecoin payments company Reap in July. It later agreed to acquire wallet infrastructure company Magic Labs.
These agreements are a part of a bigger plan to make Kraken a more comprehensive financial services platform that offers payments, trading, and other financial products. Payward was also reported to be raising additional capital at a $20 billion valuation in May as it increased spending on acquisitions.
For now, the IPO remains on the horizon rather than off the table. But the latest delay shows that even one of the crypto industry’s best-known companies is willing to wait for a more favourable market before asking public investors to value its business.
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment