Kraken parent company's Q3 total revenue was $487 million, down 12% year-over-year, adjusted EBITDA down 67% year-over-year

Odaily reports: Crypto trading platform Kraken's parent company Payward has released its Q3 2026 financial report, with adjusted EBITDA of $60 million, down 67% year-over-year and up 163% quarter-over-quarter; total platform revenue was $487 million, down 12% year-over-year and up 12% quarter-over-quarter.

During the same period, Payward's total platform trading volume fell 30% year-over-year to $353 billion, while the number of funded accounts grew 37% year-over-year to 7.1 million.

To expand revenue streams, Payward is scaling its tokenized equities business and plans to offer onchain perpetual contracts to U.S. customers after obtaining regulatory approval. In addition, the company plans to enter the prediction market and issue its own token, but has not yet announced a specific timeline.

It is understood that Payward laid off approximately 150 employees earlier this year, and its IPO may be delayed until 2027. (Bloomberg)