v3.26.1
Revenue (Tables)
3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregation of Revenue by service type and platform

We disaggregate revenue by service type and by platform as follows:

 

 

 

 

Three Months Ended
March 31,

 

Revenue stream

 

 

2026

 

 

2025

 

Banking and payments revenues

 

 

$

4,931,213

 

 

$

6,921,625

 

Custody and trading revenues

 

 

 

665,194

 

 

 

151,855

 

Other revenues

 

 

 

97

 

 

 

26,035

 

Less: Sales returns and allowances

 

 

 

(4,195

)

 

 

(11,678

)

Revenues, net

 

 

$

5,592,309

 

 

$

7,087,837

 

Summary of activity deferred revenue

The activity in deferred revenue for the three months ended March 31, 2026 and the year ended December 31, 2025, was as follows:

 

 

 

Three Months Ended
 March 31, 2026

 

 

Year Ended December 31, 2025

 

Beginning of the period contract liability

 

$

366,252

 

 

$

875,466

 

Revenue recognized from the contract liabilities included in the beginning balance

 

 

(133,519

)

 

 

(771,669

)

Increases due to cash received net of amounts recognized in revenue during the period

 

 

75,894

 

 

 

262,455

 

End of period contract liability

 

$

308,627

 

 

$

366,252