Overview
- Payward disclosed on Aug. 14 that adjusted revenue for Q2 2026 reached $508 million, a 17% gain year over year, even as total platform transaction volume fell to $310 billion.
- Funded accounts climbed 42% to a record 6.6 million and platform assets stood at about $40 billion, showing stronger customer deposits and balance growth across Payward’s suite of products.
- Asset‑based and other revenue rose to roughly 60% of total, driven by custody, staking, payments and tokenized-asset services that earn fees tied to client balances rather than individual trades.
- The company reported adjusted EBITDA of $23 million, a sharp drop from the prior year, and has paused its IPO timetable while it integrates acquisitions and pursues regulatory approvals such as an OCC national trust charter.
- Payward strengthened its regulated stack in 2026 through deals including Bitnomial and Reap and an agreed purchase of Magic Labs’ wallet business, a push that could expand cleared derivatives, payments and custody for retail and institutional users.