Kraken Parent Payward's Q3 Earnings Fall 67% as Crypto Trading Slows
The company said trading volume fell 30% as it builds tokenized equities, banking and derivatives businesses to reduce reliance on crypto fees.
- Payward reported its third-quarter adjusted EBITDA fell 67% to $60 million, down from roughly $182 million last year, as total platform transaction volume shrank 30% to $353 billion.
- Weaker cryptocurrency trading activity weighed on financial performance as Bitcoin recently fell below $70,000, with inflation concerns and higher bond yields dampening investor sentiment across exchanges.
- Expanding its ecosystem, Payward grew its xStocks platform to more than 1,500 assets, reaching over $1.1 billion in assets under management with cumulative transaction volume exceeding $45 billion.
- Banking ambitions progressed as Payward agreed to acquire the Finnish parent of Lithuania-licensed Saldo Bank in October, while securing full regulatory approval from Dubai's Virtual Assets Regulatory Authority.
- Payward added artificial intelligence as a fifth business pillar alongside trading and banking, while its initial public offering may not occur until next year as the company diversifies beyond conventional trading fees.
13 Articles
13 Articles
Kraken Parent’s Third-Quarter Earnings Drop 67% From a Year Ago
Kraken parent Payward's Q3 earnings fall 67% as crypto trading slows
Kraken parent Payward has reported a 67% annual drop in third-quarter adjusted earnings as weaker cryptocurrency trading activity weighed on its financial performance, despite a recovery from the previous quarter. According to a shareholder letter reviewed by Bloomberg News on…
Payward Q3 2026 Platform Margin Drops 12%
Kraken's parent company reported a 12% year-over-year drop in platform margin for the third quarter of 2026, as it accelerates expansion into banking, tokenized equities, and financial infrastructure. Read the original on Payward Q3 Margin Falls 12% to $487 Million Amid Expansion. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
Crypto downturn squeezes Kraken as both an exchange and a lender in Q3
Kraken’s parent company, Payward, earned much less in the third quarter because fewer people traded crypto, according to the company’s financial results for the third quarter of 2026. The falling price of bitcoin is also hurting Payward’s loans. The company has not listed its shares on the stock market yet, and it is trying to...
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