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5 clusters · 29 sources · 23 days · First seen 29 days ago · Last updated 7 days ago

Payward Q2 performance and international banking exploration

Overview

Payward, the parent company of Kraken, reported second-quarter revenue of $508 million, a 17% year-over-year increase. This growth was driven by a shift toward non-trading services, such as staking and tokenized stocks, which now constitute 60% of total revenue. While funded accounts grew 42% to 6.6 million and assets under custody reached $40 billion, the company experienced a sharp divergence in profitability. Adjusted EBITDA fell to $23 million from approximately $80 million the previous year, alongside a decline in total platform transaction volume to $310 billion.

To bolster its ecosystem, Payward has pursued acquisitions including the U.S. derivatives platform NinjaTrader, the automated trading tool Capitalise.ai, and a stablecoin payment platform. Recent funding rounds have reportedly valued the company between $13 billion and $20 billion, amid speculation of a potential IPO.

Strategically, Payward is exploring becoming a full bank in a non-U.S. jurisdiction to reduce reliance on third-party partners. This follows its existing institutional infrastructure, such as the Wyoming-chartered Kraken Financial and Kraken Institutional custody services.

Additionally, Payward is in advanced negotiations with Hyperliquid Labs to facilitate the latter’s entry into the U.S. market. The proposed arrangement involves allowing American traders to access certain perpetual futures through Bitnomial, a regulated Payward subsidiary. Payward has reportedly submitted a proposal to the Commodity Futures Trading Commission (CFTC) to address regulatory hurdles related to Hyperliquid’s decentralized architecture. This structure aims to comply with U.S. derivatives frameworks by routing access through Bitnomial’s regulated infrastructure. While the deal follows remarks from President Donald Trump regarding efforts to bring such platforms onshore, experts suggest that implementing the necessary regulatory revisions for this model could take 10 to 12 months.

Entities

Kraken · Payward · Commodity Futures Trading Commission · Bitnomial · Kraken Financial

Claims

What the coverage asserts, and how many sources carry each claim.

[● 14 SOURCES] Hyperliquid Labs is in advanced discussions with Payward, the parent company of Kraken, regarding entry into the US market. www.criptovaluta.it · newsbit.nl · coinacademy.fr · bitnewsbot.com · bitcoinethereumnews.com · +8 more
[● 14 SOURCES] Payward has submitted a proposal to the Commodity Futures Trading Commission (CFTC) regarding a potential structure for Hyperliquid. www.criptovaluta.it · newsbit.nl · coinacademy.fr · bitnewsbot.com · bitcoinethereumnews.com · +8 more
[● 14 SOURCES] The proposed structure would allow US traders to access Hyperliquid perpetual futures through Bitnomial, a regulated subsidiary of Payward. www.criptovaluta.it · newsbit.nl · coinacademy.fr · bitnewsbot.com · bitcoinethereumnews.com · +8 more
[● 9 SOURCES] Donald Trump previously indicated his administration would work to bring the trading platform to the United States. www.criptovaluta.it · newsbit.nl · coinacademy.fr · bitnewsbot.com · decrypt.co · +4 more
[● 6 SOURCES] Hyperliquid currently processes more than $4 billion in daily trading volume. newsbit.nl · coinacademy.fr · bitnewsbot.com · u.today · decrypt.co · +1 more
[● 5 SOURCES] Payward acquired Bitnomial earlier this year in a deal valued at up to $550 million. bitcoinethereumnews.com · blockonomi.com · bitnewsbot.com · www.btc-echo.de · unchainedcrypto.com
[● 2 SOURCES] The process could take at least 10 to 12 months, even if regulators moved quickly. blockonomi.com · bitcoinethereumnews.com
[○ 1 SOURCE] The HYPE token price rose from $82 to approximately $84 following the news. www.criptovaluta.it

Timeline

7 days ago

[BUSINESS] 6 sources
Hyperliquid seeks U.S. market entry via Payward and Bitnomial
Hyperliquid plans to enter the U.S. market by leveraging Bitnomial’s CFTC-regulated infrastructure through a collaboration with Payward, Kraken’s parent company.
12 days ago

[BUSINESS] 22 sources
Hyperliquid in talks with Payward to enter U.S. market
Hyperliquid Labs is in advanced talks with Kraken parent Payward to bring regulated perpetual futures to U.S. traders via Bitnomial, pending CFTC approval.
22 days ago

[BUSINESS] 2 sources
Payward explores international banking expansion for Kraken
Payward, parent company of Kraken, is exploring becoming a full bank in a non-U.S. market to expand its financial services and reduce reliance on third-party banking partners.
27 days ago

[BUSINESS] 2 sources
Payward reports revenue growth but sharp profit decline in Q2
Kraken parent Payward saw Q2 revenue rise 17% to $508 million, but adjusted EBITDA dropped over 70% to $23 million as trading volumes declined despite record user accounts.
29 days ago

[BUSINESS] 4 sources
Payward reports $508M Q2 revenue as Kraken expands services
Payward, parent of Kraken, reported $508 million in Q2 revenue, a 17% annual increase driven by diversification and a 42% rise in funded accounts despite falling spot trading volumes.

Sources

ambcrypto.com · bitcoinethereumnews.com · blockchainreporter.net · blockchainseoul.kr · blockonomi.com · blocktempo.com · btc-echo.de · coin-turk.com · coinacademy.fr · coincu.com · coinedition.com · coinpedia.org · criptotendencias.com · crypto-news-flash.com · crypto.news · cryptobriefing.com · decrypt.co · detlionblood32.wordpress.com · memeburn.com · naturalis.hu · newsbit.nl · planningassociates.com.au · smithii.io · surflabor.com · tekedia.com · tokenpost.com · tokenpost.kr · u.today · unchainedcrypto.com

This summary has been updated 4 times: see revision history