Payward amplia peso de custódia e serviços no terceiro trimestre
A Kraken reduziu a dependência de comissões de negociação, enquanto ativos de clientes e serviços empresariais responderam por 52% da margem central do grupo.
A Kraken reduziu a dependência de comissões de negociação, enquanto ativos de clientes e serviços empresariais responderam por 52% da margem central do grupo. This is an original Criptano brief based on reporting by Finance Magnates, with live market data added, as of Fri, 13 Nov 2026 18:15:01 UTC.
A mudança indica que a rentabilidade da Payward passou a depender menos do ciclo de negociação cripto. A evolução de contas financiadas, ativos sob custódia e serviços financeiros passa a ser tão relevante quanto os volumes negociados para a geração de margens.
- Ativos de clientes e serviços empresariais geraram 52% da margem central.
- O EBITDA ajustado triplicou sequencialmente, de US$ 23 milhões para US$ 60 milhões.
- A margem total da plataforma caiu 12% na comparação anual.
- Os volumes de negociação ficaram 30% abaixo do mesmo período do ano anterior.
- Securitize amplia ativos tokenizados para US$ 5 bilhões no terceiro trimestre
- Payward amplia peso de custódia e serviços no terceiro trimestre — this brief
A Payward, controladora da Kraken,/presentationreporting reported results that show a structural change in how the exchange group earns money. In the third quarter of 2026, client assets and enterprise services generated 52% of the group’s core margin, surpassing trading commissions for the first time, according to Finance Magnates. Transaction fees remain important to Kraken’s identity, but they no longer account for most of the margin retained by the business.
The company’s adjusted EBITDA reached US$ 60 million, compared with US$ 23 million in the second quarter, representing a near tripling in sequential terms. The improvement came despite platform trading volumes remaining 30% below the year-earlier period. Bitcoinist said total platform margin stood at US$ 487 million, down 12% from the same quarter of 2025, while The Block highlighted a 37% increase in funded accounts.
The year-over-year direction was weaker than the sequential recovery. The Block reported that adjusted EBITDA fell by about two-thirds compared with the prior-year period, and Crypto.news described a 67% annual decline in adjusted earnings as weaker crypto trading activity reduced the company’s financial performance. Crypto.news based its report on a shareholder letter reviewed by Bloomberg News, adding a source not cited in the other summaries provided.
Payward adopted Total Platform Margin, or TPM, as its new performance measure. The metric replaces adjusted revenue and calculates net intake after direct trading costs and staking yields paid to clients are deducted. Finance Magnates said TPM reached US$ 487 million for the quarter, matching Bitcoinist’s figure, and framed the result as evidence that custody and financial services are becoming central to profitability.
The broader crypto market provides a subdued backdrop. Total market capitalization stands at US$ 2.38 trillion, the overall market is broadly lower, and 
Bitcoin is down 4.28% over 24 hours. The Fear & Greed Index is at 20, classified as Extreme Fear. No specific coin from the monitored list was named in the results, so these indicators offer sector context rather than a direct asset-level explanation for Payward’s performance.
The development matters because Payward is demonstrating a business model less exposed to trading fees, even though its earnings still reflect weaker activity. Future attention will center on whether the mix shift toward custody, enterprise services and funded accounts continues, alongside changes in TPM, EBITDA and trading volumes. Those indicators show whether the sequential improvement reflects a durable diversification or remains tied to quarterly market conditions.
1 key figure independently matched across 4 outlets reporting this story.
Criptano extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Figures and sectors in this story, checked live against on-chain aggregators · 13 de novembro de 2026.
Criptano reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Payward amplia peso de custódia e serviços no terceiro trime — questions & answers
O que passou a gerar mais margem na Payward?
Ativos de clientes e serviços empresariais responderam por 52% da margem central no terceiro trimestre, ultrapassando pela primeira vez as comissões de negociação, segundo a Finance Magnates.
Qual foi o EBITDA ajustado da Payward?
O EBITDA ajustado foi de US$ 60 milhões, número corroborado pela Finance Magnates e pelo The Block. Foi quase o triplo dos US$ 23 milhões do trimestre anterior, mas caiu cerca de dois terços na comparação anual.
Como ficaram os volumes e a margem da plataforma?
Os volumes de negociação ficaram 30% abaixo do mesmo período do ano anterior. A margem total da plataforma foi de US$ 487 milhões, 12% menor que no terceiro trimestre de 2025, segundo a Bitcoinist.
Which outlets reported this story?
This is an original Criptano brief that synthesises reporting from Finance Magnates. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Criptano brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.