Kraken

Payward, Inc. operates a multi‑sided digital‑asset market and infrastructure platform. On the trading side it aggregates liquidity for spot (and, via regulated venues, derivatives) markets and charges volume‑linked maker‑taker fees on executed trades. It extends this with fiat on‑ramp and off‑ramp capabilities, capturing spreads or explicit fees on deposits, withdrawals and instant conversion. For institutional users it provides qualified custody, prime brokerage‑style execution, OTC liquidity and financing workflows, charging custody, service and spread/commission fees.

In parallel, the company offers a B2B infrastructure layer exposing payments, trading, staking, lending and token lifecycle capabilities via enterprise APIs. This allows banks, fintechs and enterprises to integrate digital‑asset rails and tokenised markets into their own offerings. Value creation comes from providing regulated‑grade market access, safekeeping and operational infrastructure, while revenue is generated through transaction fees, membership schemes that shape pricing, and recurring and usage‑based charges on institutional and enterprise services.

Payward, Inc. is a US‑based parent company of the Kraken group, operating a centralised digital‑asset trading, custody and infrastructure business. Through its exchange, institutional trading desks and custody operations, it provides spot trading, fiat on/off ramps, derivatives access (via acquired regulated venues) and qualified digital‑asset safekeeping to retail traders and institutional investors.

The company monetises transaction flow on its trading venues using tiered maker‑taker fees, membership variants that modify fee exposure, and spreads and fees on funding rails. It also generates revenue from institutional custody, prime and OTC services, as well as enterprise infrastructure APIs that allow financial institutions, fintechs and enterprises to embed payments, trading, staking, lending and tokenised asset capabilities into their own products.