--- title: "Kraken's Parent Company Payward Pushes Beyond Crypto Trading With Fundraising Amid $20 Billion Valuation" type: "News" locale: "en" url: "https://longbridge.com/en/news/286157342.md" description: "Payward, the parent company of Kraken, is raising capital at a $20 billion valuation as it prepares for a future IPO. The company is expanding beyond crypto trading into derivatives and payments, recently acquiring Reap Technologies for up to $600 million. Payward has also acquired NinjaTrader and Bitnomial for $550 million. Although it previously paused its IPO plans due to market conditions, co-CEO Arjun Sethi stated that Kraken is \"80% ready\" for an IPO, with no specific timeline given." datetime: "2026-05-12T20:18:14.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286157342.md) - [en](https://longbridge.com/en/news/286157342.md) - [zh-HK](https://longbridge.com/zh-HK/news/286157342.md) --- # Kraken's Parent Company Payward Pushes Beyond Crypto Trading With Fundraising Amid $20 Billion Valuation The parent of the **Kraken** crypto exchange, **Payward,** is seeking to raise new capital at a $20 billion valuation, as the company looks towards going public in the future. The funding effort was reported alongside a strategy that moves Kraken beyond spot token trading and deeper into markets such as derivatives, payments, and stablecoin-related rails.  Last week, Kraken announced its agreement to acquire **Reap Technologies,** a stablecoin-native, card-issuing and payments infrastructure company, for up to $600 million payable in cash and stock. The transaction is expected to close in 2026, subject to regulatory approval. **Read Also: EXCLUSIVE: SpaceX, OpenAI, Anthropic IPOs Could 'Suck Air' From Crypto Market, Says Anchorage Digital's Lawant** Payward has also recently acquired companies such as **NinjaTrader** and **Backed** as it looks to expand its platform. Last month, it was announced Payward signed a definitive agreement to acquire crypto-native exchange **Bitnomial** for up to $550 million, using a mix of cash and stock. Payward previously filed a confidential S-1 draft with the U.S. Securities and Exchange Commission in November, however, the company decided to put its IPO on pause earlier this year citing unfavorable market conditions affecting the digital asset sector. Now, co-CEO **Arjun Sethi** said during Consensus Miami that Kraken was "80% ready" for an IPO. Sethi did not give a definitive timeline for an IPO, but has continued to say that it is in the pipeline for the future. _Photo Courtesy: Piotr Swat on Shutterstock.com_ **Read Also: Robinhood Takes First Step Toward Second Venture Fund IPO After RVI Doubles** ### Related Stocks - [BITF.US](https://longbridge.com/en/quote/BITF.US.md) - [MARA.US](https://longbridge.com/en/quote/MARA.US.md) - [GLXY.US](https://longbridge.com/en/quote/GLXY.US.md) - [HUT.US](https://longbridge.com/en/quote/HUT.US.md) - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [COIN.US](https://longbridge.com/en/quote/COIN.US.md) - [RIOT.US](https://longbridge.com/en/quote/RIOT.US.md) - [BLOK.US](https://longbridge.com/en/quote/BLOK.US.md) - [BITB.US](https://longbridge.com/en/quote/BITB.US.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [BRRR.US](https://longbridge.com/en/quote/BRRR.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [IBIT.US](https://longbridge.com/en/quote/IBIT.US.md) - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [EZBC.US](https://longbridge.com/en/quote/EZBC.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md) - [OpenAI.NA](https://longbridge.com/en/quote/OpenAI.NA.md) - [HOOD.US](https://longbridge.com/en/quote/HOOD.US.md) - [SSTK.US](https://longbridge.com/en/quote/SSTK.US.md) ## Related News & Research - [Robinhood's (HOOD) Crypto Revenue Collapsed. The Business Did Not](https://longbridge.com/en/news/286385984.md) - [Alchemy Pay Joined Mastercard Crypto Partner Program](https://longbridge.com/en/news/286301179.md) - [Anthropic Voids Unauthorized Share Transfers, Triggering Bloodbath In Tokenized Markets](https://longbridge.com/en/news/286115942.md) - [Kraken to buy stablecoin payments firm Reap in $600 million deal: Bloomberg](https://longbridge.com/en/news/285560905.md) - [DeFi milestones mark shift toward revenue, AI and regulation](https://longbridge.com/en/news/286017580.md)