Payward operates as the parent company of Kraken and describes itself as a unified financial infrastructure platform powering a family of crypto products. Kraken is one of the largest global cryptocurrency exchanges, and Payward has been broadening its focus beyond spot trading into a wider range of financial services. The company reported $2.2 billion in adjusted revenue for 2025. Payward has been expanding its footprint through acquisitions and partnerships and recently entered a partnership with Deutsche Borse to better connect traditional and crypto markets for institutional clients. Management confidentially filed for a U.S. IPO in November as it continues to prepare for a potential public listing. The company’s valuation has shifted from an earlier $20 billion mark to an implied roughly $13.3 billion valuation following the Deutsche Borse investment.

Total raised

$200M

Funding rounds

2

Latest round

Equity

Latest activity

Apr 2026