POPA ReconKraken Parent Reports $508M Q2 Revenue as Growth Expands Beyond Trading
Kraken Parent Reports $508M Q2 Revenue as Growth Expands Beyond Trading Payward, the parent company of Kraken, reported $508M in adjusted revenue in Q2, up 17% YoY, while remaining adjusted EBITDA positive at $23M despite weaker crypto spot volumes. Platform transaction volume fell 13% YoY to $310B, but Payward gained spot market share for the third consecutive quarter as activity expanded beyond crypto trading. Asset-based and other revenue now accounts for 60% of total revenue, up from 55% a year earlier, highlighting Payward’s shift toward a broader financial platform. Funded accounts j…
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