Kraken parent Payward seeks fresh funding at $20 billion valuation ahead of planned IPO
The crypto exchange operator is pursuing a new fundraising round as it ramps up acquisitions across derivatives and stablecoins while laying the groundwork for a future public listing....
Key takeaways
- 1Payward raising capital at $20 billion valuation with planned IPO after confidentially submitting S-1 to SEC in November.
- 2Company acquired derivatives platform Bitnomial for $550 million and stablecoin firm Reap for $600 million recently.
- 3Kraken co-CEO stated exchange is '80% ready' for public listing, though IPO paused due to unfavorable market conditions.
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Why it matters
A major crypto exchange's path to IPO signals institutional legitimacy for crypto in regulated markets, while aggressive M&A in derivatives and stablecoins expands infrastructure Indian retail investors may eventually access. The $20 billion valuation reflects growing mainstream acceptance despite regulatory headwinds globally.
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