Payward’s client assets and institutional services accounted for 52% of core profit in the third quarter

AI-assisted source summary · not independently verified. Content standards

Client assets and institutional services accounted for 52% of core profit at Kraken parent Payward in the third quarter, exceeding trading commissions. Total Platform Margin was $487 million, up 12% quarter over quarter; adjusted EBITDA rose to $60 million from $23 million in the second quarter, while platform trading volume remained 30% below the same period a year earlier. Payward completed its acquisition of Reap this quarter, adding institutional card issuance and payment rails.