BNY and Kraken Parent Company in Talks Over Crypto Infrastructure Deal

Kraken's parent company, Payward, is reportedly in talks with BNY to expand their services to institutional clients.

The discussions could cover custody, trading, payments, wealth management, and digital-asset infrastructure, according to CoinDesk.

This move aligns with Payward's strategy of selling its systems behind Kraken to other financial institutions, allowing them to use its services while retaining their own customer relationships.

Prior to this, Payward introduced Payward Services in March 2023, offering businesses access to trading, custody, stablecoin payments, and funding through one integration.