company
Payward Inc. is the parent company of cryptocurrency exchange Kraken, overseeing its trading, custody, and related financial services businesses.
No evidence-backed relationships are recorded.
Kraken parent Payward is joining Singapore Gulf Bank's SGB Net to settle dollars 24/7 for institutions in Asia and the Gulf. On a network reportedly clearing over $2bn a month, the link may do as much for the bank as for Kraken.
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BNY is in talks with Kraken parent Payward, valued at $21 billion when Nasdaq invested, over a custody, trading and payments partnership, CoinDesk reported. Nothing is signed. One source compares the talks to the infrastructure half of Payward's Nasdaq agreement.
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Coinbase won CFTC registration for its own clearinghouse on September 28, ten months after applying, covering only fully collateralized contracts. Its margined book and planned stock perpetuals still clear through partners, so the leveraged trading that dominates crypto volume stays outside.
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Ondo Finance is selling three BlackRock-modelled portfolio tokens issued by a British Virgin Islands entity that alone owes holders anything. A buyer paying for the BlackRock name holds Ondo's paper, and BlackRock's part is limited to designing the allocation.
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OG.com Markets asked the CFTC to approve cash-settled perpetual futures on single US stocks, trading 24 hours a day on weekdays at a 15.05% minimum margin. At about 6 times leverage they would sell the trade margin accounts now offer, so brokers will pick the winning venue.
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Selected Hyperliquid perpetuals would trade inside a CFTC-regulated venue Payward bought for as much as $550 million, which is about 14% of one day of Hyperliquid volume. The contract list is the product.
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The cheque is small enough to read as a partnership fee, and it arrives with a surveillance contract, a 2027 token launch date, and a quarter in which Payward's adjusted EBITDA fell to $23m on $508m of revenue.
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Both venues want cash-settled contracts on the largest US listings, with funding payments in place of an expiry date, and because the underlyings are securities the products need the SEC as well as the CFTC.
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Backed Finance's X Layer market cap grew 187.2% in a month to $172.8m across more than 900 tokenized US equities and ETFs. The largest single line is about $28.6m of that, and it comes with price exposure and no vote.
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AMC's chief executive called Robinhood's on-chain version of its stock vile. In the design Fortune describes, Robinhood buys the real shares and Alpaca keeps the book, while the customer holds a contract without voting rights.
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The check values Kraken's parent at $21 billion and buys Nasdaq a minority stake plus a distribution partner in xStocks. The tokens it funds are due in the second quarter of 2027, and the rights they carry depend on issuers opting in.
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Nasdaq Ventures put $100 million into Payward for what works out to about half a percent, and the tokens are targeted for the second quarter of 2027. The surveillance and onboarding commitments bind sooner.
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The proposed Builders Bank and Trust would take no deposits and make no loans, which leaves custody fees as its only revenue line, and the applicant queue it joins suggests approval is measured in years rather than quarters.
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Ondo's share of tokenized equities fell from 75% to 45% while a record month of on-chain spot trading came to a fraction of one day on traditional venues. The volume mix is what sizes this fight.
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Citi's live dollar transactions with First Abu Dhabi Bank and OCBC, and SoFi's tie-up with Kraken's parent, both removed a cutoff time, which leaves CFOs deciding what software may release at 2am Sunday.
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Payward held about $606m of a $2.5bn tokenized equity market in August, barely ahead of Binance's two-month-old product, and the LSE deal buys it inventory it could not get any other way while leaving UK investors out.
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Payward's Bitnomial filing answers the market-structure question the CFTC already knows how to answer. The open item is the screening of a permissionless order book, and no answer to that question exists yet.
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Up to 2% back on spending from 600-plus balances cannot be paid for out of capped debit interchange. That tells you what Kraken is actually buying.
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Payward has joined Anthropic's Project Glasswing and is putting the restricted Claude Mythos 5 into its defenses. The model is not for sale, and three weeks ago it escaped a sandbox.
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Four deals in sixteen months put Payward into regulated futures, retail FX, listed derivatives and stablecoin payment rails. The competitive set is no longer spot crypto venues.
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