COINDESK · 2026-11-13 14:02 UTC

Kraken parent Payward says expansion outside crypto trading helps cushion revenue decline

Payward, Kraken's parent, said its preferred revenue measure (total platform margin) fell 12% year over year in Q3 to $487 million as trading fees declined on subdued market activity. Income tied to client assets, products, data and services rose to 52% of the total from 46% a year earlier, as Payward expands into banking, asset management, payments and infrastructure. Total platform margin rose 12% from the second quarter, and adjusted earnings also rose as trading activity picked up.

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