Payward’s adjusted revenue grew on broader product adoption despite a 13% drop in total transaction volume to $310 billion.
Payward, parent company of crypto exchange Kraken, reported $508 million in adjusted Q2 revenue, a 17% year-over-year increase. Adjusted EBITDA reached $23 million for the quarter ending June 30, as the company expanded beyond spot trading into equities, tokenized assets, and derivatives.
Total platform transaction volume fell 13% to $310 billion, reflecting weaker industry-wide crypto spot activity. Funded accounts rose 42% to 6.6 million, while assets on the platform held steady at $40 billion, supported by growth in the European Economic Area following MiCA authorization.
The company highlighted acquisitions and new product launches, including the purchase of derivatives venue Bitnomial and stablecoin payments firm Reap, as part of its strategy to integrate crypto with traditional financial infrastructure.