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FollowingThe IPO of Kraken's parent company Payward has been postponed again
According to reports, Payward, the parent company of cryptocurrency exchange Kraken, has postponed its initial public offering (IPO) until at least the second quarter of 2027, marking another postponement of one of the industry's most closely watched listing plans and breaking expectations accumulated during the intermittent preparation process over more than two years.
The IPO timeline has been adjusted again
According to sources, Payward currently believes that its public listing will not be earlier than the second quarter of 2027. This is another restart for a company that has targeted the listing window many times but has never been able to take action. The delay is significant because it puts off any Kraken's listing plans far beyond earlier, more aggressive expectations. Kraken has significantly expanded its traditional financial business in recent years, including the launch of U.S. stock trading services in Europe, which led to expectations that the company was preparing to enter the open market.
Application documents and regulatory background are still of concern
Kraken has previously taken formal steps towards listing, confirming in an announcement that it has filed a draft registration statement for the initial public offering. The confidential document is a regular early milestone in the IPO process and the clearest official signal yet. The regulatory environment related to listing has always been an unresolved factor, and relevant cases have been documented in SEC litigation announcements. A distinction needs to be made between confirmed company and regulatory documents and media coverage of time points; the delay was not linked to any single regulatory reason through verified documents. Broader policy issues, including the market structural framework discussed in the CLARITY Act, are also the context that any cryptocurrency company close to the open market must face.
What does the delay mean for cryptocurrency IPOs?
This delay is in line with the pattern of many previous "false launches". Kraken's IPO ambitions attracted attention as early as March 2025. Later, the company restarted plans, but encountered new obstacles. In early 2026, Kraken froze its listing plans, citing the difficult market environment. Now the new mid-2027 window becomes the latest chapter in this intermittent story, highlighting that market timing and execution issues are still complicating public listings of cryptocurrency companies. Despite repeated delays in listing, Kraken continues to work hard in other areas, including joining the artificial intelligence security project and working with the London Stock Exchange to list major UK stocks. Throughout, the company has steadily expanded its business footprint, while the entrance to the open equity market has always been out of reach.
