Payward Inc., the company behind the Kraken crypto exchange, reported $60 million in adjusted EBITDA for the third quarter of 2026, up 163% from the prior quarter. The result was nevertheless 67% lower than a year earlier, while trading volume fell 30% to $353 billion. Total platform margin reached $487 million and funded accounts increased 37% to 7.1 million. Payward is diversifying through tokenized equities and on-chain perpetual contracts for US customers, both pending regulatory approval, and through the planned acquisition of European lender Saldo Bank. After cutting about 150 jobs in 2026, the company is also considering prediction markets and issuing its own token, while a potential initial public offering could be delayed from 2026 to 2027.
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