Kraken parent Payward is reportedly seeking a new funding round at a $20 billion valuation after accelerating acquisitions and confidentially filing an S-1 with the SEC ahead of a potential public listing.
Kraken parent Payward is reportedly raising a new funding round at a $20 billion valuation, adding concrete financial detail to its previously described expansion strategy. The company has recently accelerated acquisitions, including Reap for $600 million and Bitnomial for $550 million, as it builds out its position in digital asset market segments such as stablecoins and derivatives. The report also states that Payward confidentially filed an S-1 with the U.S. Securities and Exchange Commission last November as it prepares to go public.