Payward, the parent company of Kraken, invests billions in financial infrastructure

Payward has invested billions of dollars over the past two years, expanding into futures and derivatives, tokenized stocks, and banking through acquisitions and self-built businesses. The goal is to integrate trading, payments, asset management, and institutional services into a unified financial infrastructure. Payward's co-CEO Arjun Sethi stated that the company is a platform, a balance sheet, and a regulatory framework, with the core being the flow of funds and assets across different businesses through a single ledger. Payward has enhanced the U.S. futures and derivatives infrastructure through acquisitions of NinjaTrader and Bitnomial, and plans to acquire a bank in Europe. Its B2B infrastructure division, Payward Services, currently has at least 25 companies using its API, including Hyperliquid. In the second quarter of 2026, Payward's adjusted revenue was $508 million, a 17% increase year-on-year.

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