Kraken’s Krak debuts US debit card as Payward broadens financial services push
Related
Onyx Odds raises $20 million in funding, led by Kraken's parent company, Payward.
According to Foresight News , citing Axios, sports prediction marketplace Onyx Odds has completed a $20 million funding round led by Kraken's parent company, Payward, valuing the company at $220 million. CEO Leul Dadi stated that the company plans to expand into other trading products.
Kraken's parent company, Payward, joins the U.S. Tech Force initiative.
According to Odaily Odaily, Kraken's parent company, Payward, has announced its participation in the White House-backed "US Tech Force" federal technology talent program. This program aims to recruit top engineers for two-year terms to participate in the development of key areas such as artificial intelligence, cybersecurity, data modernization, software engineering, and blockchain-based security infrastructure. These individuals will directly participate in the development of federal projects related to the U.S. fiscal system and defense technology. In addition, Payward has pledged to recruit talent trained by the Tech Force to its team, establish a two-way talent mobility mechanism between the government and the private sector, and promote the further integration of decentralized innovation with core U.S. infrastructure.
Kraken's parent company has sued derivatives platform PowerTrade, accusing it of "misappropriating" $7.2 million in funds.
PANews reported on June 25th that, according to CoinDesk, Kraken's parent company, Payward, has filed for an investigation in a US federal court against cryptocurrency derivatives platform PowerTrade and its co-founders, accusing them of "misappropriating" approximately $7.2 million in digital assets and unrealized profits. The lawsuit alleges that PowerTrade unilaterally used approximately 100 "correction" transactions to retroactively cancel profitable positions that had matured or settled months prior, turning Payward's PowerTrade account from a positive balance of over $6 million to a negative balance of nearly $2 million, and attempting to seize his Bitcoin collateral. Payward has obtained a global asset freeze order from the Dubai International Financial Centre Court and has initiated further legal proceedings in multiple locations.
Kraken Parent Payward Joins Glasswing, Gets Access to Claude Mythos to Hunt Security Flaws
Payward is joining Project Glasswing, Anthropic’s program for giving vetted organizations access to its powerful cybersecurity AI.
Kraken parent Payward revenue rises 17% as trading volume falls in Q2
Payward grew revenue despite weaker crypto spot activity, as funded accounts jumped 42% and a growing share of revenue came from outside transaction-based activity.
Sources say Kraken is seeking a full European banking license in Lithuania.
PANews reported on July 8th that, according to CoinDesk, sources familiar with the matter revealed that cryptocurrency exchange Kraken is seeking a full banking license in Europe, with Lithuania as the jurisdiction for obtaining the license. If approved, Kraken would become the only crypto exchage holding such a license, following the same regulatory path as fintech giant Revolut (which received a specialized banking license from the Bank of Lithuania in 2018), enabling it to offer services such as current accounts, consumer loans, and stock trading in the European Economic Area. This move is part of Kraken's parent company Payward's global licensing strategy.