# Kraken Financial

**Source:** https://www.startuphub.ai/startups/kraken-financial
**Profile type:** Startup

> A Wyoming-chartered special purpose depository institution (SPDI) that provides regulated digital asset banking services and direct access to the Federal Reserve's payment infrastructure.

## About

Kraken Financial, operating as Payward Financial, is a Wyoming-chartered special purpose depository institution (SPDI) that has achieved a significant regulatory milestone by being approved for a limited-purpose account with the Federal Reserve Bank of Kansas City. This approval marks the first time a digital asset bank in the U.S. has gained direct access to the Federal Reserve's payment infrastructure, enabling faster and more efficient fiat movement for institutional clients. Kraken Financial operates on a full-reserve basis, holding liquid assets equal to or exceeding 100% of client fiat deposits, and offers secure and regulated custody solutions for digital assets.

## Key facts

- **Slug:** kraken-financial
- **Website:** https://www.kraken.com/kraken-financial
- **Location:** Cheyenne, United States
- **Founded:** 2020-09-16
- **Operating status:** Active
- **Total funding:** $600M
- **Sectors / tags:** Fintech, Cryptocurrency, Banking, Regulatory Technology, Digital Payments, Embedded Finance, Neobank, Crypto Exchange, Blockchain, Financial Services, Digital Asset Bank, Custody Services, Regulatory Compliance

## Frequently asked

### What does Kraken Financial do?

Kraken Financial, operating as Payward Financial, is a Wyoming-chartered special purpose depository institution (SPDI) that has achieved a significant regulatory milestone by being approved for a limited-purpose account with the Federal Reserve Bank of Kansas City. This approval marks the first time a digital asset bank in the U.S. has gained direct access to the Federal Reserve's payment infrastructure, enabling faster and more efficient fiat movement for institutional clients. Kraken Financial…

### How much funding has Kraken Financial raised?

Kraken Financial has raised a total of $600M in funding. The most recent round on record is Secondary Transaction - Private.

### Where is Kraken Financial headquartered?

Kraken Financial is headquartered in Cheyenne, United States.

### When was Kraken Financial founded?

Kraken Financial was founded in 2020.

### What industry does Kraken Financial operate in?

Kraken Financial operates in Fintech, Cryptocurrency, Banking, Regulatory Technology, Digital Payments, Embedded Finance.

### What is Kraken Financial's revenue?

StartupHub estimates Kraken Financial's annual revenue at $2.0B (range $1.3B to $4.8B, 43% confidence), based on comparable companies in the sector.

### What is Kraken Financial's valuation?

StartupHub estimates Kraken Financial's effective valuation at $19.0B (range $13.3B to $24.7B, 39% confidence), based on comparable companies in the sector.

## JSON-LD

Structured data aligned with this page's `<script type="application/ld+json">` (included when the profile is server-rendered).

```json
{
  "@context": "https://schema.org",
  "@graph": [
    {
      "@type": "BreadcrumbList",
      "itemListElement": [
        {
          "@type": "ListItem",
          "position": 1,
          "name": "Home",
          "item": "https://www.startuphub.ai"
        },
        {
          "@type": "ListItem",
          "position": 2,
          "name": "Startups",
          "item": "https://www.startuphub.ai/startups"
        },
        {
          "@type": "ListItem",
          "position": 3,
          "name": "Kraken Financial",
          "item": "https://www.startuphub.ai/startups/kraken-financial"
        }
      ]
    },
    {
      "@type": "ProfilePage",
      "@id": "https://www.startuphub.ai/startups/kraken-financial#webpage",
      "url": "https://www.startuphub.ai/startups/kraken-financial",
      "name": "Kraken Financial - AI Startup Profile | StartupHub.ai",
      "description": "This is the official profile of Kraken Financial (formerly [\"Payward Financial\"]). Kraken Financial is a startup founded in 2020, operating in Fintech and Cryptocurrency. A Wyoming-chartered special purpose depository institution (SPDI) that provides regulated digital asset banking services and direct access to the Federal Reserve's payment infrastructure. Headquartered in Cheyenne, United States.",
      "dateModified": "2026-07-27T06:00:10.634+00:00",
      "mainEntity": {
        "@id": "https://www.startuphub.ai/startups/kraken-financial#organization"
      }
    },
    {
      "@type": "Organization",
      "@id": "https://www.startuphub.ai/startups/kraken-financial#organization",
      "name": "Kraken Financial",
      "url": "https://www.kraken.com/kraken-financial",
      "logo": "https://cdn.startuphub.ai/storage/v1/object/public/entity-images/logos/a10d8971-2b5a-41b7-bbca-ea9fdf22956d-square.webp",
      "image": "https://cdn.startuphub.ai/storage/v1/object/public/entity-images/logos/a10d8971-2b5a-41b7-bbca-ea9fdf22956d-square.webp",
      "description": "This is the official profile of Kraken Financial (formerly [\"Payward Financial\"]). Kraken Financial is a startup founded in 2020, operating in Fintech and Cryptocurrency. A Wyoming-chartered special purpose depository institution (SPDI) that provides regulated digital asset banking services and direct access to the Federal Reserve's payment infrastructure. Headquartered in Cheyenne, United States.",
      "sameAs": [
        "https://www.startuphub.ai/startups/kraken-financial"
      ],
      "foundingDate": "2020-09-16",
      "address": {
        "@type": "PostalAddress",
        "addressLocality": "Cheyenne",
        "addressCountry": "US"
      },
      "knowsAbout": [
        "Fintech",
        "Cryptocurrency",
        "Banking",
        "Regulatory Technology",
        "Digital Payments",
        "Embedded Finance",
        "Neobank",
        "Crypto Exchange",
        "Blockchain",
        "Financial Services",
        "Digital Asset Bank",
        "Custody Services",
        "Regulatory Compliance"
      ]
    },
    {
      "@type": "Product",
      "@id": "https://www.startuphub.ai/startups/kraken-financial#profile-assessment",
      "name": "Kraken Financial - StartupHub.ai Profile Assessment",
      "url": "https://www.startuphub.ai/startups/kraken-financial",
      "image": "https://cdn.startuphub.ai/storage/v1/object/public/entity-images/logos/a10d8971-2b5a-41b7-bbca-ea9fdf22956d-square.webp",
      "category": "Fintech",
      "description": "This is the official profile of Kraken Financial (formerly [\"Payward Financial\"]). Kraken Financial is a startup founded in 2020, operating in Fintech and Cryptocurrency. A Wyoming-chartered special purpose depository institution (SPDI) that provides regulated digital asset banking services and direct access to the Federal Reserve's payment infrastructure. Headquartered in Cheyenne, United States.",
      "brand": {
        "@type": "Brand",
        "name": "Kraken Financial"
      },
      "review": {
        "@type": "Review",
        "author": {
          "@type": "Organization",
          "name": "StartupHub.ai"
        },
        "datePublished": "2026-07-27",
        "name": "Kraken Financial - Profile Score 58/100",
        "reviewBody": "This is the official profile of Kraken Financial (formerly [\"Payward Financial\"]). Kraken Financial is a startup founded in 2020, operating in Fintech and Cryptocurrency. A Wyoming-chartered special purpose depository institution (SPDI) that provides regulated digital asset banking services and direct access to the Federal Reserve's payment infrastructure. Headquartered in Cheyenne, United States.",
        "reviewRating": {
          "@type": "Rating",
          "ratingValue": 58,
          "bestRating": 100,
          "worstRating": 0
        }
      }
    }
  ]
}
```