Kraken operator Payward forecasts $2.2 billion in adjusted revenue last year…up 33% from a year earlier

JH Kim

Summary

Payward Interactive’s adjusted revenue of $2.2 billion last year is expected, marking a 33% increase from a year earlier.
About 47% of Payward’s revenue came from trading operations, while 53% came from other services such as custody and payments, with non-trading revenue accounting for more than half.
Payward will focus on tokenized equities, custody, yield and financial businesses, and global expansion, while Kraken is preparing for an initial public offering (IPO) in the first half of this year.

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Adjusted revenue at Payward Interactive, the operator of U.S. crypto exchange Kraken, is expected to come in at $2.2 billion last year. That represents a 33% increase from a year earlier.

According to crypto-focused media outlet The Block on the 3rd (local time), about 47% of Payward’s revenue came from trading operations, while the remaining 53% was generated from other services such as custody and payments. A notable feature is that non-trading revenue accounted for more than half.

Kraken CEO Arjun Sethi said, “The company’s strategy is not about adding individual products or chasing short-term market fluctuations,” adding that it is “focused on maximizing efficiency across a single, unified system.”

He continued, “Payward will focus on a range of asset offerings including tokenized equities, as well as custody, yield and financial businesses, and continued global expansion.”

Meanwhile, Kraken is said to be preparing for an initial public offering (IPO) in the first half of this year.