Payward Revenues Bounce 33% as Merchants Flock to Kraken

Crypto alternate Kraken’s mum or dad firm, Payward, reported 33% income development in 2025 as transaction volumes rose and the enterprise capitalized on its acquisitions.

The corporate’s revenues rose to $2.2 billion final yr, up from $1.6 billion in 2024 as a result of “broad-based efficiency throughout buying and selling and asset-based companies,” with whole transaction volumes rising 34% over the yr to $2 billion, Kraken co-CEO Arjun Sethi mentioned in a report on Tuesday.

He added that revenues had been “effectively balanced,” with round 47% coming from trading-based income and 53% from asset-based and different revenues.

The report comes as traders carefully be careful for Kraken’s public launch, after the corporate confidentially filed for an preliminary public providing in November.

Acquisitions helped diversify earnings

Sethi mentioned Payward’s acquisitions in 2025 helped increase its revenues, and it has taken inspiration from tech giants comparable to Meta and Amazon to separate its merchandise to extend their utilization, permitting “every product to be designed for a selected buyer phase.” 

Final yr, Payward acquired the futures buying and selling platform NinjaTrader, the prop buying and selling agency Breakout, the derivatives buying and selling platform Small Change and the buying and selling automation software program Capitalise.ai.

Payward additionally acquired Backed final month, an organization working within the tokenized shares house that backs the favored xStocks platform.

Sethi mentioned these acquisitions, particularly NinjaTrader and Breakout, led to a 119% increase in every day common income trades.

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The report added that property on the platform noticed an 11% enhance to $48.2 billion, whereas funded accounts grew 50% to five.7 million, he added.