Kraken parent Payward revenue rises 17% as trading volume falls in Q2
60-second summary
Kraken parent Payward reports a 17% revenue increase in Q2, driven by a 42% surge in funded accounts and a shift towards non-transactional revenue sources. Weaker crypto spot activity failed to dampen growth, as the company adapts to changing market conditions. This resilience underscores Payward's diversification efforts and ability to navigate market volatility.
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.