Overview
Payward Services is the parent company behind kraken and developer of the xstocks tokenized equities framework. Provides regulated broker-dealer custody for 1:1 backed tokenized equity instruments.
Recent Developments
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2026-07-16: Primary debt financing partner (with BMO) in alpaca $435M package (2026-07-16-alpaca-135m-official-blog)
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2026-07-01: Completed acquisition of reap for up to 20B (2026-07-02-payward-reap-businesswire-closed)
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Awaiting OCC national trust bank charter (application filed May 2026)
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2026-06-05: Launched xStocks IPO Access with SpaceX as debut offering via Kraken (2026-06-05-kraken-spacex-xstocks-businesswire)
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2026-06-07: bybit IPO Express powered by xStocks for SpaceX SPCX
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Co-CEO Arjun Sethi indicated more IPO-enabled products planned in coming weeks