Payward Inc., the parent company of cryptocurrency exchange Kraken, posted a 17% increase in revenue during the second quarter despite a broader decline in spot trading volume across the market.
According to the company, the revenue growth was underpinned by a 42% year-over-year surge in funded accounts. Additionally, Payward noted that a growing share of its overall revenue is now generated from sources outside traditional transaction-based activity, reflecting diversification in its business model as spot market volumes fluctuate.
