Payward Revenue Grows 17% Despite Weaker Crypto Spot Trading

Kraken parent Payward reported $508 million in Q2 adjusted revenue, up 17% year over year, as growth outside crypto spot trading helped offset lower transaction volume.

Payward Revenue Grows 17% Despite Weaker Crypto Spot Trading

DOGE

$0.06977

0.63%

TRX

$0.3329

0.41%

LINK

$8.97

1.29%

ZEC

$493.33

1.51%

ADA

$0.1792

1.50%

XRP

$0.9989

1.02%

ETH

$1,879.91

0.41%

BTC

$62,903.87

0.84%

XMR

$396.17

0.03%

BNB

$606.61

0.67%

XLM

$0.1585

0.62%

SOL

$75.13

1.49%

HYPE

$55.54

3.28%

Written by

Nate Kostar

staff writer

Reviewed by

Sam Bourgi

staff writer

Written by

Nate Kostar

staff writer

Reviewed by

Sam Bourgi

staff writer

Kraken parent Payward revenue rises 17% as trading volume falls in Q2

Latest News

Published

Aug 14, 2026

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.

Kraken parent Payward reported $508 million in adjusted revenue for the second quarter, up 17% year over year despite a decline in crypto spot trading and overall transaction volume.

According to Friday’s earnings report, total transaction volume fell 13% year over year to $310 billion, while funded accounts increased 42% to 6.6 million.

Payward remained adjusted EBITDA positive at $23 million. Asset-based and other revenue accounted for 60% of total revenue, up from 55% a year earlier, as the company generated a growing share of its revenue outside transaction-based activity.

Payward said growth in traditional futures, equities and tokenized equities helped offset weaker crypto spot activity. The company also said it gained spot market share for a third consecutive quarter.

The results come as Payward has expanded beyond spot crypto trading over the past year into equities, tokenized stocks,

pre-IPO exposure

and futures.

The company has also broadened its financial infrastructure business through acquisitions including futures trading platform NinjaTrader in May 2025 and regulated derivatives exchange Bitnomial the following year, as well as its more recently announced deal to

acquire Magic Labs’

wallet infrastructure business.

Magazine:

El Salvador’s Bitcoin experiment turns 5: ‘It was for us, not them’

Subscribe to daily byte-sized crypto news from Cointelegraph

Subscribe

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s

Editorial Policy

and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Kraken

Cryptocurrency Exchange

Industry

More on the subject

Dartmouth endowment’s crypto exposure drops by $2M amid falling prices

2 hours ago

Turner Wright

Israel’s largest bank taps Galaxy to offer Bitcoin, Ether, Solana trading

5 hours ago

Nate Kostar

Crypto Biz: Bitcoin’s $116M self-custody wake-up call

5 hours ago

Sam Bourgi

Dartmouth endowment’s crypto exposure drops by $2M amid falling prices

2 hours ago

Turner Wright

Israel’s largest bank taps Galaxy to offer Bitcoin, Ether, Solana trading

5 hours ago

Nate Kostar

Crypto Biz: Bitcoin’s $116M self-custody wake-up call

5 hours ago

Sam Bourgi