United Kingdom · Payments & e-money
Payward Services Limited
Trading asKraken · Krak
Payward Services Limited is a private limited company incorporated in England and Wales in September 2020, with its registered office in London. The FCA has authorised it as an electronic money institution under the Electronic Money Regulations 2011 since 20 February 2025 (FRN 1010381). It is a wholly owned subsidiary of Seven Cities Pte. Ltd. of Singapore. Its ultimate parent is Payward, Inc. of the United States, the group behind the Kraken brand. The firm provides e-money wallets and related payment services to UK retail customers of Kraken and Krak, and it began operations in June 2025.
Licences and registrations
Held by Payward Services Limited (LEI 254900PZD2SD6M12CH57). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| FCA Financial Services Register - E-Money InstitutionsFCA | Authorised E-Money InstitutionE-Money / Stored Value Institution | 1010381 | United Kingdom | Active | 2025-02-20 | — |
|
Search the register ↗ |
Trading names on the register: Kraken (FCA-EMI), Krak (FCA-EMI)
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
Swift network
Swift’s ISO 9362 BIC directory
Holds no BIC in Swift’s directory.
Its LEI is not mapped to a BIC in the Swift and GLEIF BIC-to-LEI relationship file.
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Ownership
Group subsidiary
100% Seven Cities Pte. Ltd.
Firm type
E-money and accounts
Trades as Kraken
- Ownership
- Seven Cities Pte. Ltd. of Singapore owns 100% of the firm, and Payward, Inc. of the United States is its ultimate parent and controlling party.
- Direct parent
- Seven Cities Pte. Ltd., Singapore 100%
- Ultimate owner
- Payward, Inc., United States
- Head office
- 6th Floor, One London Wall, EC2Y 5EB London, United Kingdom
- Company register
- Companies House 12861311
- Incorporated
- 7 Sep 2020
Online
- Websites & references
- kraken.com ↗
krak.app ↗ Krak money app site (group brand; UK card and e-money wallet disclosures)
support.kraken.com ↗ support centre, including licensing page - Official social accounts
- LinkedIn ↗ · X ↗ · Facebook ↗ · Instagram ↗ · YouTube ↗ · TikTok ↗ · Reddit ↗
Sources · 16 pages consulted
- register.fca.org.uk/s/firm?id=0014G00003EccAhQAJ
- find-and-update.company-information.service.gov.uk/company/12861311/officers
- find-and-update.company-information.service.gov.uk/company/12861311/filing-history?page=1
- find-and-update.company-information.service.gov.uk/company/12861311/filing-history?page=3
- find-and-update.company-information.service.gov.uk/company/12861311/filing-history/MzU0MTA3NTg0M2FkaXF6a2N4/document?format=pdf&download=0
- find-and-update.company-information.service.gov.uk/company/12861311/persons-with-significant-control
- kraken.com/legal/disclosures
- kraken.com/legal/global-terms
- kraken.com/
- support.kraken.com/articles/where-is-kraken-licensed-or-regulated
- blog.kraken.com/news/uk-emi-authorization
- blog.kraken.com/product/kraken-card/introducing-the-kraken-card
- krak.app/gb/legal/card-terms
- services.payward.com/
- fortune.com/2026/09/10/nasdaq-tokenized-stocks-100-million-investment-kraken-parent-payward/
- coindesk.com/business/2026/04/13/crypto-exchange-kraken-targeted-in-extortion-attempt-but-says-there-w
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
The FCA authorises the firm as an electronic money institution under the Electronic Money Regulations 2011. Its UK sister company Payward Ltd provides Kraken's cryptoasset exchange and custody services as an FCA-registered cryptoasset business. Monavate Limited issues the UK cards under its own FCA e-money authorisation.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Financial Conduct Authority (FCA) United Kingdom | Authorised Electronic Money Institution | 1010381 | In its own name | Active | register.fca.org.uk ↗ |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Segregated safeguarding accountsThe firm states that it safeguards funds held as e-money by placing them in a separate, dedicated client money bank account, and that the e-money is not covered by the Financial Services Compensation Scheme.
- Card issuer
- Monavate Limited United Kingdom
- Payment schemes and card networks
- Mastercard Through a partner blog.kraken.com ↗
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
The firm holds UK retail customers' fiat balances on Kraken as e-money and supports the UK Kraken and Krak Mastercard debit cards, which Monavate Limited issues. According to its 2025 accounts, it also provides fiat banking services to other Payward group companies.
It serves retail customers in the United Kingdom only. Kraken's EEA customers contract with Payward Ireland Limited.
- Revenue
- GBP 1.31m
- Sells to
- Consumers · Other
- Serves customers in
- United Kingdom
Leadership
Researched 29 Sep 2026 · Sources
- Executive
- Bivu Das Director; UK General Manager, Kraken
- Executive
- Mathieu Doidy Director
- Executive
- Natasha Isobel Louise Powell Director
- Executive
- Louise Marie Smith Director
Recent events 1 enforcement or investigation item
Researched 29 Sep 2026 · Sources
-
Funding
Nasdaq invested USD 100 million in the group parent Payward, Inc., according to Fortune. The investment was made at group level.
fortune.com ↗ -
Security incident
The Kraken group disclosed two insider incidents in which support staff may have viewed data from about 2,000 client accounts. An extortion attempt followed.
coindesk.com ↗ -
Leadership
The firm appointed Louise Marie Smith as a director on 10 February 2026. Stephanie Lemmerman resigned as a director on 12 January 2026.
find-and-update.company-information.service.gov.uk ↗ -
Other
The firm began operations as an electronic money institution, according to its 2025 annual report.
find-and-update.company-information.service.gov.uk ↗ -
Licence
The FCA authorised the firm as an electronic money institution on 20 February 2025.
blog.kraken.com ↗ -
Leadership
The firm appointed Mathieu Doidy, Natasha Powell and Stephanie Lemmerman as directors on 17 December 2024.
find-and-update.company-information.service.gov.uk ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
- Licence no. · FCA-EMI
- 1010381
- BIC
- Holds no BIC in Swift’s directory
- How the LEI was matched
- Matched by Elucidate on the UK company number the register gives
- Elucidate firm ID
- 6bd0a4a1645a
Profile
- Type
- Payments & e-moneyPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Main licence class
- E-Money / Stored Value Institution
- Activities
- Payment services
- E-money / stored value
- Licensed in
- United Kingdom · Europe & Central Asia
- First registered
- 2025-02-20
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
Addresses
- Address on the register
- 6th Floor, One London Wall, London, EC2Y 5EB
- Country
- United Kingdom
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code.
- Identified by
- Name and postal address, with its LEI
- Postal address
- Hybrid: town, postcode and country in their own elements, the rest in one address line
<FinInstnId>
<LEI>254900PZD2SD6M12CH57</LEI>
<Nm>PAYWARD SERVICES LIMITED</Nm>
<PstlAdr>
<PstCd>EC2Y 5EB</PstCd>
<TwnNm>London</TwnNm>
<Ctry>GB</Ctry>
<AdrLine>6th Floor, One London Wall</AdrLine>
</PstlAdr>
</FinInstnId>- The address line repeats the town or postcode. Remove the repeat if your payment system rejects it.
CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent.
The values are as published by the register. Check them against your own records before use.
Sources & method
Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI.
An institution missing from these registers is not necessarily unregulated.
Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Register for this page
- FCA Financial Services Register - E-Money Institutions—Financial Conduct Authority (FCA) · source ↗ as at 25 September 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
Assess the financial crime risk behind a licence
A licence records what an institution is authorised to do; it does not assess it. The Elucidate FinCrime Index (EFI) is an independent score of the financial crime risk of banks and payment institutions.
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