WyomingPayward spent billions in 2 years to outgrow Kraken.
Co-CEO Arjun Sethi wants trading, banking and asset management on one ledger.
Payward bought into futures and derivatives, pushed into tokenized stocks and pursued banking capabilities in the US and Europe.
Coinbase and Binance are building similar single platforms spanning trading, payments, investing and derivatives.
Sethi says Payward is profitable and in no rush to go public.
How each outlet framed it
- CoinDesk leans favorable
- emphasizes Sethi's vision of 'one ledger' allowing assets to move without intermediaries, positioned against traditional finance patchwork
Sources: CoinDesk