KRAKEN | Crypto

Kraken’s parent company, Payward, received preliminary approval from Dubai's VARA, paving the way for UAE dirham funding, margin and OTC trading and institutional access via Kraken Prime. Cryptocurrency exchange Kraken moved closer to a launch in the United Arab Emirates after its operator, Payward, received preliminary approval from Dubai’s Virtual Assets Regulatory Authority (VARA), according to the company. Payward on Thursday announced its UAE expansion alongside receiving preliminary approval for a broker-dealer, investment and management licence from VARA. A spokesperson for Kraken told Cointelegraph the preliminary approval was granted on Thursday, with a full launch date to be confirmed. Read more

President Donald Trump has pushed the Federal Reserve to revisit one of the most contested gateways in US finance, escalating a fight over whether crypto and fintech firms should be allowed to connect directly to the central bank’s payment system. On May 19, Trump signed an executive order directing the Fed to evaluate its policies […] The post Trump order puts Kraken, Ripple, Coinbase and Circle in line for Fed payment rails appeared first on CryptoSlate.

Kraken has cut 150 staff due to the rising use of AI, adding to more than 5,000 layoffs across the crypto sector so far this year, Bloomberg reports. Crypto exchange Kraken has reportedly laid off some of its staff as a cost-cutting measure, which could delay its planned initial public offering in the US until next year. The company, whose corporate name is Payward, laid off about 150 workers due to efficiencies from deploying artificial intelligence across the business, Bloomberg reported on Friday, citing a person familiar with the matter. The person said AI is being used more extensively throughout Kraken, but the company is not planning further job cuts at the moment. Read more

Kraken is moving its wrapped Bitcoin (kBTC) to Chainlink CCIP as bridge-security fears continue spreading across DeFi, turning the bridge-security debate into a decision about wrapped-Bitcoin infrastructure. In a recent announcement, the exchange said it is deprecating its existing cross-chain provider and moving all Kraken Wrapped Bitcoin to Chainlink's Cross-Chain Interoperability Protocol. CCIP will become […] The post Kraken moves Bitcoin to Chainlink as bridge fears spread across DeFi appeared first on CryptoSlate.

LayerZero has come under scrutiny since it was exploited in April, as crypto protocols reevaluate their cross-chain providers and seek safer alternatives. Crypto exchange Kraken announced Thursday that it had changed its cross-chain provider from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol, joining a number of protocols that have made the move following the Kelp DAO exploit in April. Kraken said it is deprecating its existing cross-chain provider and migrating to Chainlink CCIP as its exclusive cross-chain infrastructure to secure Kraken Wrapped Bitcoin (kBTC) and all future wrapped tokens. The company added that it chose Chainlink CCIP because it “offers enterprise-grade infrastructure with strict security and risk management requirements.” These include certifications, secure-by-default design, 16 independent nodes and native rate limits. Read more

Crypto exchange Kraken is the latest firm to shift away from LayerZero tech following last month's $292 million Kelp DAO exploit.

Kraken spends $600 million to acquire a stablecoin card issuer. Hun To admits to owning 30% of Huione Pay but denies operational role. Asia Express.

The US banking regulator has already approved similar charter applications for Coinbase, Ripple Labs, BitGo, Circle, Fidelity Digital Assets and Paxos. Payward, the parent company of cryptocurrency exchange Kraken, announced that it had filed an application with the US Office of the Comptroller of the Currency (OCC) for a national trust company charter, following other digital asset companies. In a Friday notice, Payward said that the OCC application, if approved, would result in the establishment of Payward National Trust Company, allowing it to "provide fiduciary custody and other services primarily for digital assets." The application would make the Kraken parent one of a handful of crypto companies moving closer toward banking, following OCC approvals for Coinbase and others. “A national trust company provides the certainty institutions require and establishes the infrastructure to build the next generation of custody,” said Kraken co-CEO Arjun Sethi. “This is not about being first; it is about getting th...

Payward’s application would add a federally regulated trust company to the Kraken group’s existing Wyoming bank charter and Fed master account.

Kraken parent Payward agreed to buy Hong Kong-based Reap for up to $600 million, adding card issuance and stablecoin payment capabilities to its new B2B platform. Kraken parent Payward agreed to acquire Hong Kong-based Reap Technologies for up to $600 million, expanding its push into stablecoin payments and business-to-business (B2B) financial infrastructure. Payward has entered into a definitive agreement to acquire Reap for up to $600 million, the company announced Thursday. The deal is set to be paid in a mix of cash and Payward stock, in a transaction that values Payward’s equity at $20 billion. It would expand Payward Services, the company's B2B infrastructure platform launched in March 2026. The deal comes as crypto companies increasingly expand beyond trading services into payments infrastructure and stablecoin-related products as stablecoins gain traction among fintech firms and businesses. Read more

Kraken owner Payward will acquire Hong Kong-based Reap Technologies as the crypto exchange expands its stablecoin and payments infrastructure business in Asia.

The crypto exchange said eligible US users can now access up to 10x leveraged spot crypto trading through a CFTC-registered entity. Kraken has launched spot margin trading for eligible US retail users on Kraken Pro through a CFTC-registered entity, expanding access to leveraged crypto trading on a regulated domestic platform. The product allows traders to borrow against crypto holdings without selling them, offering up to 10x leverage for long and short positions, according to the company. Kraken said the platform displays liquidation prices and borrowing costs before trades are executed. The crypto exchange said regulated margin trading in the United States has historically been limited to institutions and high-net-worth individuals classified as Eligible Contract Participants, pushing many retail traders toward offshore platforms offering leverage products. Read more

Payward and Kraken co-CEO Arjun Sethi says the exchange is “80% ready” to go public, as a new partnership with MoneyGram aims to expand access to digital assets by solving last-mile cash conversion.

The partnership enabling conversion of digital assets into cash through MoneyGram’s global network follows a similar move by rival Western Union. Kraken has teamed up with MoneyGram to let users convert crypto into cash for pickup across more than 100 countries, expanding access to off-ramps through its global retail network. According to Tuesday’s announcement, Kraken users will be able to convert digital assets into local currency and collect cash instantly or near-instantly through MoneyGram’s payout network, which supports hundreds of fiat currencies. The service will roll out in phases across regions including the US, Europe, Latin America, Africa and parts of Asia-Pacific, with plans to add bank deposits and cross-border payouts later. Read more

The acquisition provides a fully licensed derivatives stack under CFTC oversight, covering trading, clearing and brokerage. Payward, the parent company of Kraken, announced it has completed its acquisition of crypto derivatives venue Bitnomial, giving it control of a fully CFTC-regulated derivatives stack in the United States. The acquisition gives Payward a Futures Commission Merchant, Designated Contract Market and Derivatives Clearing Organization, infrastructure it plans to use to expand CFTC-regulated products across Kraken and NinjaTrader, starting with spot margin, with perpetuals and options expected to follow. Payward said Bitnomial will continue operating within its existing regulatory structure, with the deal enabling partners, including fintechs, banks and brokerages, to access US-regulated derivatives through the company's infrastructure platform. Read more

The product lets investors access diversified exposure across digital assets and equities without managing individual positions. Kraken has launched a new product that bundles cryptocurrencies and tokenized US stocks into pre-built, auto-rebalanced portfolios, as it seeks to attract non-US investors looking for multi-asset exposure within a single investment. The bundles combine digital assets with the company’s xStocks offering, tokenized representations of US equities and exchange-traded funds (ETFs), with allocations set and automatically rebalanced. According to Thursday's announcement, the portfolios include combinations such as Bitcoin (BTC) paired with an S&P 500 index tracker and baskets of major technology stocks alongside cryptocurrencies, offering exposure to both asset classes within a single product. Read more

Nakamoto launched a Bitcoin derivatives program with Bitwise and Kraken, aiming to generate options premiums and hedge part of its BTC treasury exposure. Nasdaq-listed Bitcoin treasury company Nakamoto announced on Friday an actively managed Bitcoin derivatives program designed to generate recurring income from volatility while hedging part of its downside exposure. Nakamoto said the program has been in place since the first quarter of 2026 and uses a portion of the company’s Bitcoin holdings as collateral for a derivatives strategy managed by Bitwise Asset Management in a separately managed account. Under the arrangement, a portion of the company’s Bitcoin is held in Kraken’s qualified custody solution and used as collateral for a derivatives strategy managed by Bitwise Asset Management in a separately managed account. Read more

The crypto exchange advocated for two key changes to US tax law affecting crypto users to “eliminate millions of unnecessary forms.” Cryptocurrency exchange Kraken called for a change in US tax policy after reporting millions of cases of transactions “worth less than $1” as part of its reporting requirements for 2025. In a Wednesday blog post, Kraken said it issued more than 56 million tax forms — 1099-DAs — to the US Internal Revenue Service (IRS) in 2025 as now required by law. However, the exchange said that about 18.5 million of those forms were for transactions under $1, with about 28 million for $10 or less and 75% under $50. In an effort to “eliminate millions of unnecessary forms,” the exchange called for a de minimis exemption for taxes to exclude “small, routine digital asset payments from capital gains reporting.” It similarly advocated for an end to “phantom” income derived from staking cryptocurrencies, requiring holders to “owe taxes on value they have not realized” by not selling their staking ...

Kraken says it is being extorted by a criminal group threatening to release internal material after two support staff members improperly accessed limited customer data. In a security update published by chief security officer Nick Percoco on X, the crypto exchange said it identified two cases of inappropriate access to client support data, revoked access, […] The post Kraken is actively being extorted by criminals threatening to release the top crypto exchange’s internal data appeared first on CryptoSlate.

Deutsche Börse said it will invest $200 million in Kraken’s parent company for a fully diluted stake of 1.5%, subject to regulatory approval. Update April 14, 12:39 pm UTC: This article has been updated to include a comment from a Kraken spokesperson. Deutsche Börse said Tuesday it will invest $200 million in Payward, the parent company of crypto exchange Kraken, deepening a partnership between the two companies as the German exchange operator expands further into digital assets. The investment, which is subject to regulatory approval and is expected to close in the second quarter, will give Deutsche Börse a 1.5% fully diluted stake in Kraken through a secondary share purchase. Read more