Payward’s non-trading businesses contribute more than half of core profit
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AI-assisted source synthesis · not an independent investigation.
In the third quarter of 2026, customer assets and enterprise services at Kraken parent Payward contributed 52% of the group’s core profit, exceeding trading commissions. The company’s Total Platform Margin was $487 million, up 12% quarter over quarter; adjusted EBITDA was $60 million, up from $23 million in the second quarter, though a new report said it was down 67% year over year. Platform trading volume remained 30% below the same period a year earlier. This quarter, Payward completed its acquisition of Reap, adding enterprise card issuance and payment rails. The latest report also said that a decline in the crypto market and reduced trading put pressure on third-quarter trading fee revenue and lending business.
AI-written from reports · updated 2 hours ago
Timeline
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- CryptopolitanCrypto Market Slump Weighs on Kraken’s Trading and Lending Businesses
A decline in crypto markets and reduced trading weighed on both trading fee revenue and lending at Kraken parent Payward in the third quarter, with adjusted EBITDA falling 67% year over year to $60 million.
- Finance MagnatesPayward’s client assets and institutional services accounted for 52% of core profit in the third quarter
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.
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