Kraken parent Payward says expansion outside crypto trading helps cushion revenue decline
Payward, the parent company of crypto exchange Kraken, reported a 12% year-over-year decline in revenue due to lower trading volumes. To mitigate this, the company is diversifying into banking, asset management, and financial infrastructure services.
Why it matters
Reflects the broader trend of cryptocurrency exchanges pivoting toward traditional financial services to stabilize revenue amid market volatility.
Переведено ИИ 2 мин чтения Make preferred on Поделиться Поделиться этой статьей Скопировать ссылку X icon X (Twitter) LinkedIn Facebook Электронная почта Make preferred on Увеличить изображение Payward and Kraken co-CEO Arjun Sethi, center. (CoinDesk) Кратко Показать Payward, Kraken’s parent company, said its preferred revenue measure fell 12% from a year earlier to $487 million in the third quarter as subdued trading weighed on fees. Income tied to client assets and access to products, data and services rose to 52 percent of the total, up from 46 percent a year earlier, as Payward expanded beyond cryptocurrency trading. Results showed signs of recovery, with the revenue measure rising 12% from the second quarter and adjusted earnings improving as trading activity picked up.
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