CASE STUDY | Kraken Parent Company Bets Billions on Build, Buy, or Partner Strategy for Financial Infrastructure

Payward, the parent company of crypto exchange Kraken, is spending billions of dollars to build a financial platform that combines trading, payments, asset management and institutional services on shared infrastructure. The strategy is increasingly defined by three approaches: build what Payward considers core, buy capabilities that would take too long to develop, and partner where established financial institutions can accelerate distribution or access. Over the past two years, Payward has acquired businesses spanning futures, derivatives, trading technology, and tokenized equities, […]