Kraken parent Payward reported $508 million in adjusted revenue for the second quarter, up 17% from a year earlier on Friday as growth broadened beyond crypto spot trading.
Adjusted EBITDA came in at $23 million for the quarter ended June 30, while total platform transaction volume fell 13% to $310 billion. Payward said the decline reflected weaker crypto spot activity across the industry, even as equities, tokenized equities and traditional futures gained share across its platform.
The revenue mix continued to shift. ****** et-based and other revenue rose to 60% of total revenue from 55% a year earlier, while funded accounts climbed 42% to 6.6 million. ****** ets on the platform stood at $40 billion, with Payward citing stronger momentum in the European Economic Area following MiCA authorization.
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Adjusted EBITDA came in at $23 million for the quarter ended June 30, while total platform transaction volume fell 13% to $310 billion. Payward said the decline reflected weaker crypto spot activity across the industry, even as equities, tokenized equities and traditional futures gained share across its platform.
The revenue mix continued to shift. ****** et-based and other revenue rose to 60% of total revenue from 55% a year earlier, while funded accounts climbed 42% to 6.6 million. ****** ets on the platform stood at $40 billion, with Payward citing stronger momentum in the European Economic Area following MiCA authorization.
More From Cryptoprowl:
MEXC July TradFi Trading Shifts Toward AI Storage as SNDK Futures Volume Surges More Than 15x Times
#revenue #platform #trading #quarter
3 months ago
