According to CoinMeta, Kraken's parent company, Payward, announced that it is postponing its planned initial public offering (IPO) until the second quarter of 2027 due to market conditions that affected the previous listing plans. Payward initially planned to go public on the U.S. stock market in 2025 after returning to it as a cryptocurrency company, but the decline in digital asset prices and weakened trading activity made it difficult to maintain that timeline. Payward submitted a confidential registration statement to the U.S. Securities and Exchange Commission (SEC) in November 2025, allowing the company to begin the review process without immediately releasing financial statements. Payward's financial report for the second quarter showed that adjusted revenue was $508 million, a year-on-year increase of 17%.