Payward, the parent company of U.S. cryptocurrency exchange Kraken, has again delayed its initial public offering (IPO).
The Wyoming-based company said it will not go public until the second quarter of 2027, at the earliest. It is the second time that Payward has put off its highly anticipated IPO.
The Kraken parent company announced in March of this year that it was delaying its IPO, citing difficult market conditions and declining cryptocurrency prices.
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Bitcoin (CRYPTO: BTC) is soaring today, up 5.5% as of 3:07 p.m. ET on Aug. 19, 2026, as President Donald Trump and crypto-industry executives meet at the White House.
The S&P 500 and Nasdaq Composite were up 0.3% and 0.2%, respectively, on Wednesday.
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Trump is meeting crypto executives at the White House on Wednesday afternoon. The group, which features executives from Coinbase Global, Payward, and Blockchain.com, will also meet with key regulators and White House staff, including Securities and Exchange Commission (SEC) Chair Paul Atkins, Commodity Futures Trading Commission (CFTC) Chair Mike Selig, and White House crypto advisor Patrick Witt.
Investors are hoping the meeting will lead to movement from Congress. The Clarity Act, which would provide a legal framework for the crypto market, is stalled in the Senate. Whether that comes to pass is very much an open question.

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Kraken parent Payward reported $508 million in adjusted revenue for the second quarter, up 17% from a year earlier on Friday as growth broadened beyond crypto spot trading.
Adjusted EBITDA came in at $23 million for the quarter ended June 30, while total platform transaction volume fell 13% to $310 billion. Payward said the decline reflected weaker crypto spot activity across the industry, even as equities, tokenized equities and traditional futures gained share across its platform.
The revenue mix continued to shift. ****** et-based and other revenue rose to 60% of total revenue from 55% a year earlier, while funded accounts climbed 42% to 6.6 million. ****** ets on the platform stood at $40 billion, with Payward citing stronger momentum in the European Economic Area following MiCA authorization.
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Payward is widening the reach of xStocks beyond U.S. markets through a new partnership with GTN, giving the tokenized-equities platform a path into Asia, Europe and other major financial centers.
The first phase will focus on Hong Kong-listed shares, with the United Kingdom, Europe, South Korea and additional markets expected to follow. Payward also plans to extend xStocks beyond tokenized equities and exchange-traded funds over time, subject to local approvals.
GTN will provide the traditional market infrastructure behind that expansion, including execution, custody, ledgering, record-keeping and sub-accounting. The company connects to more than 90 markets through a single integration, allowing Payward to add international ***** ets without building separate access rails for each region.
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Bybit is pushing tokenized equities closer to the IPO market with the launch of IPO Express, a new product that will start with **** eX as its first offering.
The exchange said eligible users will be able to subscribe to tokenized representations of IPO shares through Payward Services’ xStocks infrastructure, giving crypto-native investors a way to access primary-market pricing from inside a Bybit account. Registration and subscription for the **** eX offering run from June 7 to June 11, with allocation scheduled for June 11 to June 12 and spot trading on Bybit expected to begin June 12.
The launch lands during one of the most closely watched public listings in years. **** eX has set a $135 share price for its IPO and is aiming to raise $75 billion at a $1.75 trillion valuation, according to Reuters. Demand has already been running at roughly double the amount the company is seeking to raise, making access to allocations a major part of the market story.
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Bybit is pushing tokenized equities closer to the IPO market with the launch of IPO Express, a new product that will start with ***** eX as its first offering.
The exchange said eligible users will be able to subscribe to tokenized representations of IPO shares through Payward Services' xStocks infrastructure, giving crypto-native investors a way to access primary-market pricing from inside a Bybit account. Registration and subscription for the ***** eX offering run from June 7 to June 11, with allocation scheduled for June 11 to June 12 and spot trading on Bybit expected to begin June 12.
The launch lands during one of the most closely watched public listings in years. ***** eX has set a $135 share price for its IPO and is aiming to raise $75 billion at a $1.75 trillion valuation, according to Reuters. Demand has already been running at roughly double the amount the company is seeking to raise, making access to allocations a major part of the market story.
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