Payward, Kraken's parent, to open its infrastructure to other financial firms
- —At least 25 companies are building products on Payward's infrastructure, with launches expected in 2026
- —Payward acquired NinjaTrader for $1.5 billion and struck a $550 million deal for Bitnomial
- —Nasdaq invested $100 million in Payward; tokenized Nasdaq Equity Tokens are targeted for Q2 2027
- —Payward reported $508 million in adjusted revenue for Q2 2026, up 17% year over year
Why it matters: Kraken is repositioning as a B2B infrastructure provider, expanding revenue beyond its retail exchange and intensifying competition with Coinbase.
Source: Koin Bülteni