Kraken Parent Payward Posts $2.2 Billion Revenue In FY 2025 Amid Platform Expansion

Payward, the parent company of Kraken, reported its FY 2025 results on February 3. This indicates significant growth and expansion of platforms.

Adjusted revenue of $2.2 billion marked a 33% jump from the previous year, and adjusted EBITDA of $531 million marked a 26% jump. Total platform transaction volume marked a 34% jump to $2.0 trillion, and platform assets marked an 11% jump to $48.2 billion.

Source: Kraken

The number of funded accounts marked a 50% jump to 5.7 million, indicating that more people are using Kraken and its associated platforms, such as NinjaTrader, Breakout, and xStocks.

The company also stated that Payward is now the primary infrastructure for several products, and not just one exchange. Each platform can be customized for different customers, rules, and market requirements, with shared systems for liquidity, risk, settlement, and compliance.

This allows Payward to expand its operations more efficiently and seamlessly integrate acquisitions such as NinjaTrader and Breakout.

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Kraken Reports Strong FY 2025 Growth Across Consumer

The FY 2025 financial results of Payward were achieved through the expansion of the company in three categories: consumer, professional, and institutional services.

For consumers, applications such as Krak App and Krak Card enabled global payments and savings, and Kraken+ and Bundles assisted individuals in diversifying their portfolios.

For professionals, trading solutions became faster with Kraken Pro’s latency of less than 2ms, new APIs for spot and futures trading, and margin trading of up to 10x.

Institutional services were also enhanced with Kraken Embed and Prime, featuring tokenized equities in over 100 countries, and new U.S. and EU futures, which were supported by significant regulatory approvals.

Payward Maintains Stability During Late-2025 Market Volatility

Payward demonstrated resilience in its infrastructure during the end of 2025 market fluctuations, including the historic liquidation of $19 billion in October, and was operating without any issues.

The system remained transparent by providing Proof of Reserves on a quarterly basis, which was audited by third-party auditors.

Looking forward, Payward’s plans include covering additional assets, improving the performance of assets on the platform, and expanding globally without having to build the same infrastructure twice.

The company’s goal is to enhance efficiency in its unified systems, support tokenized stocks, crypto, forex, and futures, while maintaining risk management, smart use of capital, and regulatory compliance.

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