Kraken IPO delayed until Q2 2027: report

Kraken parent Payward has postponed its planned initial public offering until as early as the second quarter of 2027 after market conditions disrupted its previous listing schedule. Summary Payward may wait until at least the second quarter of 2027 to complete its IPO. The company confidentially submitted a draft S-1 registration statement in November 2025. Payward raised $800 million at a $20 billion valuation before filing with the SEC. Second-quarter adjusted revenue rose 17% to $508 million despite lower transaction volume. Kraken IPO timeline moves into 2027 As per reports on Wednesday, citing two people familiar with the matter, Payward had pushed the offering into the second quarter of 2027 at the earliest. The new timeline extends the IPO process that has already faced several delays. Payward initially prepared for a public debut after cryptocurrency companies returned to U.S. equity markets in 2025, but falling digital asset prices and weaker trading activity made that schedule harder to maintain. Payward confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission in November 2025. A confidential filing allows a compan...