COINTELEGRAPH · 2026-11-13 21:02 UTC

Kraken parent Payward gains market share as slower trading weighs on earnings

Payward, Kraken's parent, nearly doubled its share of global crypto spot trading to 6.5% in September from 3.3% a year earlier. Its third-quarter transaction volume fell 30% year over year to $353 billion, and adjusted EBITDA dropped to $60 million from $178.6 million. Total platform margin fell 12% to $487 million, though it rose from the second quarter, and the company has been adding derivatives, subscription and payments businesses through acquisitions.

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