Kraken's parent company, Payward, announced that its adjusted revenue for 2025 increased by 33% year-over-year to $2.2 billion, total trading volume increased by 34% to $2 trillion, and adjusted EBITDA increased by 26% to $531 million. Trading revenue accounted for 47% of total revenue, with the remainder coming from non-trading services such as custody and payments. The company positions itself as the underlying infrastructure supporting Kraken and other trading products.