Kraken is no longer just an exchange.
This year, its parent company Payward
bought NinjaTrader for $1.5 billion
acquired Bitnomial for $550 million
and is also set to acquire a Lithuanian bank.
In Q2, revenue was $508 million, up 17% year over year.
Nasdaq invested $100 million.
The tokenized stocks program is scheduled to go live in Q2 2027.
The earliest IPO is also Q2 2027.
A quote from the joint CEO:
“One platform. One balance sheet. One set of licenses.”
In plain terms:
The endgame for exchanges
is a merger of a securities firm, a futures broker, and a bank.
Keep an eye on next year’s prospectus—how much of the revenue still comes from crypto.
This year, its parent company Payward
bought NinjaTrader for $1.5 billion
acquired Bitnomial for $550 million
and is also set to acquire a Lithuanian bank.
In Q2, revenue was $508 million, up 17% year over year.
Nasdaq invested $100 million.
The tokenized stocks program is scheduled to go live in Q2 2027.
The earliest IPO is also Q2 2027.
A quote from the joint CEO:
“One platform. One balance sheet. One set of licenses.”
In plain terms:
The endgame for exchanges
is a merger of a securities firm, a futures broker, and a bank.
Keep an eye on next year’s prospectus—how much of the revenue still comes from crypto.