Payward Revenue Rises 17% Amid Decline in Crypto Spot Activity

Payward reported a 17% year-over-year increase in revenue to $508 million for Q2, despite a 13% decline in total platform transaction volume to $310 billion. Adjusted EBITDA remained positive at $23 million.

The company attributed the results to growth in traditional futures, equities, and tokenized equities, which helped offset weaker crypto spot activity. Payward gained spot market share for a third consecutive quarter.

Payward's revenue composition shifted as asset-based and other revenue accounted for 60% of total revenue, up from 55% a year earlier.