Kraken parent Payward sees revenue surge as tokenization expands
Cointelegraph
Kraken parent Payward reported $507 million in Q1 revenue, driven by strategic acquisitions and growth in tokenized equities and derivatives.Summary
Payward, the parent company of Kraken, reported $507 million in adjusted first-quarter revenue, bolstered by a 51% increase in futures trading and the growth of its user base to 6.1 million funded accounts. The company is aggressively expanding its footprint in tokenization, derivatives, and stablecoin payments through acquisitions including Backed, Magna, Bitnomial, and Reap. Despite this growth, the firm is also navigating broader industry trends, recently cutting approximately 150 employees as it shifts its internal focus toward artificial intelligence adoption and recalibrates its timeline for a potential public listing.
(Source：Cointelegraph)