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A 17% year-over-year gain pushed Payward's adjusted revenue to $508 million in the second quarter, the Kraken parent company reported, as revenue beyond crypto spot trading expanded its share of the mix.
Adjusted EBITDA for the quarter ended June 30 came in at $23 million. Total platform transaction volume fell 13% to $310 billion. Payward attributed the drop to weaker crypto spot activity across the industry.
Equities, tokenized equities, and traditional futures gained share on the platform during the period. The revenue composition reflected that shift.
Asset-based and other revenue rose to 60% of total revenue from 55% a year earlier, the company disclosed. Funded accounts climbed 42% to 6.6 million. Assets on the platform stood at $40 billion.
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