Kraken operator expects $2.2B in adjusted revenue for last year, up 33%

Payward Interactive, the operator of Kraken, announced that it expects to post $2.2 billion in adjusted revenue for last year. According to The Block, this figure represents a 33% increase year-over-year. Approximately 47% of Payward's revenue was generated from trading operations, while the remaining 53% came from other services such as custody and payments. Kraken CEO Arjun Sethi said the company's strategy is not focused on adding individual products or chasing short-term market fluctuations, but rather on maximizing efficiency across a single system. He added that Payward will concentrate on various asset offerings, including tokenized stocks, its custody, yield, and finance businesses, and continued global expansion. Meanwhile, Kraken is reportedly aiming for an IPO in the first half of this year.