Announcing Payward’s FY 2025 financial results—and alongside them, a clearer articulation of Payward’s role as the unified infrastructure layer powering Kraken and a growing family of products, including
@NinjaTrader, @breakoutprop, @xStocksFi, and future products yet to be launched.
Payward enables each product to be purpose-built for a specific customer segment, regulatory regime, and use case, while operating on shared foundations:
∙ One global liquidity pool
∙ One risk & margin engine
∙ One collateral & settlement system
∙ One compliance & licensing framework
Beginning in 2025, Payward has taken on a more explicit role as the infrastructure layer supporting multiple product surfaces and interfaces. Last was a year defined by execution: shipping across the entire product suite, launching, scaling, and integrating at a pace that reflected both operational maturity and long-term conviction. Growth was driven by strong core product momentum and meaningful contributions from recent acquisitions.
📈 FY 2025 highlights:
∙$2.2B adjusted revenue (+33% YoY)
∙$531M adjusted EBITDA (+26% YoY)
∙$2.0T platform transaction volume (+34% YoY)
∙$48.2B assets on platform (+11% YoY)
∙ 5.7M funded accounts (+50% YoY)
∙ Futures DARTs up 119%, driven by NinjaTrader and Breakout integration
FY 2025 established a new baseline for Payward’s scale, earnings power, and long-term ambition.
Learn more 👇
blog.kraken.com/news/kraken-20...…
