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Kraken Parent Payward Reports Diversification Helps Offset Crypto Trading Revenue Decline
(3 hours ago) · 1 source · Summarized by CryptoBipto
Payward, the parent company of crypto exchange Kraken, has stated that its expansion into services beyond cryptocurrency trading has helped cushion a decline in trading revenue. The company has been diversifying its business lines as trading volumes and fees have fallen.
WHY IT MATTERS
Crypto exchanges like Kraken make most of their money by charging small fees every time someone buys or sells cryptocurrency — similar to how a stock brokerage earns fees on trades.
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SOURCES
- coindesk.com
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Crypto ExchangesRevenue DiversificationKrakenBusiness Strategy