Kraken parent Payward’s platform margin fell 12% year over year to $487 million in the third quarter, while revenue from customer assets and services rose to 52%.
According to a company statement cited by CoinDesk, a market slowdown weighed on trading fees. Payward’s platform margin, which it has started using instead of adjusted revenue, is calculated after deducting staking rewards paid to customers and trading costs. Although the metric declined year over year, it rose 12% from the second quarter.
Payward expands beyond trading fees
Revenue from customer assets and access to products, data, and services accounted for 46% a year earlier. That share rose to 52%, putting these items at more than half of the total.
Alongside crypto trading, Payward is diversifying its revenue sources through banking, asset management, payments, custody, and lending services. The company also plans to develop a personal finance assistant and investment funds built on the xStocks stock-token platform.
Not investment advice.