Kraken parent Payward posted adjusted first-quarter revenue of $507 million. Cointelegraph reported on May 18 that Payward said futures trading rose 51 percent from a year earlier. It said assets on the platform increased 11 percent to $40 billion, while the number of funded accounts rose 47 percent to 6.1 million.
The tokenized stock platform xStocks increased the number of supported names to 100. Payward plans to expand that to more than 500 by end-2026. It is also expanding its tokenized stock business in cooperation with Nasdaq and Deutsche Boerse's 360X platform.
Payward completed acquisitions this quarter of tokenization firm Backed, token management platform Magna and derivatives exchange Bitnomial. It also announced a deal to acquire stablecoin payments company Reap for up to $600 million in cash and stock.
Payward also launched a platform for enterprises. The platform provides a single API for converting fiat currency into cryptocurrencies, token launch infrastructure and access to derivatives.
Chi-gyu Hwang
delight@d-today.co.kr