Kraken Parent Payward Seeks Funding At $20B Valuation

Payward, the parent company of cryptocurrency exchange Kraken, is reportedly seeking new funding at a substantial $20 billion valuation. This capital raise comes as the firm aggressively pursues acquisitions in the derivatives and stablecoin sectors, bolstering its market position. Payward has also made significant strategic purchases, including derivatives platform Bitnomial and stablecoin firm Reap, to expand its offerings. The company has previously filed confidentially for an IPO, indicating a long-term goal of going public once market conditions are more favorable.