Payward Inc., Kraken's parent company, is planning an IPO in 2026 as U.S. cryptocurrency regulations are relaxed. If successful, Kraken would become the second U.S. cryptocurrency exchange to go public after Coinbase. A spokesperson emphasized that financial transparency can be improved through public proof of reserves, marking a shift from the SEC's past allegations of unregistered activity and asset mixing, which previously hampered its IPO plans.