Payward, the parent company of cryptocurrency exchange Kraken, reported a 17% increase in second-quarter revenue despite a decline in spot trading volumes. The company said funded accounts rose 42%, and a larger share of revenue came from non-transaction activities.
Revenue Growth Amid Softer Trading
The second quarter saw weaker spot trading activity, yet Payward expanded overall revenue by 17%. The performance suggests the company is less reliant on trading fees than in prior periods, helping offset the impact of subdued market volumes.
User Base Expansion
Payward reported a 42% increase in funded accounts, indicating stronger customer acquisition and engagement. A larger active user base typically supports recurring platform activity and can provide a buffer when trading conditions are less favorable.
Diversification Beyond Transaction Fees
A growing portion of Payward’s revenue came from non-transaction sources, reflecting efforts across the crypto exchange sector to diversify income beyond spot trading. Expanding into services outside pure trading can help stabilize results through varying market cycles.