Kraken parent Payward to unify trading, payments and institutional services
Kraken parent Payward is consolidating trading, payments, asset management and institutional services onto shared infrastructure, co-CEO Arjun Sethi said.
Payward, the parent company of crypto exchange Kraken, is working to run its trading, payments, asset management and institutional businesses on shared infrastructure, according to co-CEO Arjun Sethi. The stated goal is to reposition the group as financial infrastructure rather than a single exchange product.
Sethi's comments indicate that the four business areas would sit on common rails rather than operating as separate silos. The effort has been described as a multi-billion-dollar bet, though no specific spending figures or timelines were disclosed in the reported remarks.
From venue to infrastructure
The framing reflects a broader trend among large crypto exchanges, which have expanded beyond spot trading into custody, payments, prime brokerage and asset management in an attempt to capture more of the institutional market and diversify revenue away from trading fees.
Payward has not published details on how the consolidation will be structured, which entities it will affect, or when the unified services are expected to go live. The company's exchange business remains the primary public-facing brand under the Kraken name.