Payward, Inc. (Kraken)

Kraken, legally known as Payward, Inc., is a US-based cryptocurrency exchange and financial services company founded in 2011. Its core mission is to advance an open, global financial system and promote the adoption of digital assets for financial freedom. The company's global headquarters relocated to Cheyenne, Wyoming in June 2025.

Kraken offers a comprehensive suite of products and services for both private and institutional investors. These include a cryptocurrency exchange, margin and futures trading, staking, OTC trading, custodial services, and APIs. The platform supports trading of 571 crypto assets, stocks, ETFs, and futures across more than 190 countries. Additionally, Kraken provides tokenized equities through its xStocks platform and a peer-to-peer payment application called Krak.

Led by co-CEOs Arjun Sethi and Dave Ripley, Kraken is recognized as one of the longest-standing, most liquid, and secure crypto platforms globally, serving over 15 million clients. In April 2026, Kraken acquired NinjaTrader for $1.5 billion, significantly expanding its presence in U.S. futures markets and its multi-asset ambitions. The company also completed the acquisition of Bitnomial in May 2026, securing a fully CFTC-licensed derivatives stack in the US. Other notable developments include a March 2026 partnership with Nasdaq for tokenized equities and becoming the first digital asset bank to receive a Federal Reserve master account in March 2026. While Kraken faced a civil enforcement action from the SEC regarding its staking services and operating as an unregistered exchange, this action was dismissed with prejudice in 2025.