Payward, the parent company behind U.S. centralized crypto exchange Kraken, took its first formal step toward going public. In a Nov. 19 press release, the Wyoming-based firm said it confidentially filed a draft S-1 with the U.S. Securities and Exchange Commission for a planned IPO.

The size and pricing of the deal weren’t disclosed, with Payward saying it will decide once regulators finish reviewing the filing and market conditions settle.

Kraken's New $20B Valution

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io