BNY Explores Sweeping Partnership with Kraken Parent Payward
Bank of New York Mellon (BNY) is in private talks with Payward, the parent company of crypto exchange Kraken, to form a broad partnership that spans digital assets and financial market infrastructure.
The potential agreement would give BNY access to Payward Services, a business-to-business platform that offers a range of services including custody, trading, payments, wealth management, and infrastructure.
The talks are ongoing, and no final agreement has been reached, but a deal would represent one of the most significant collaborations between a major U.S. custody bank and a crypto-native financial infrastructure company.
Payward has been expanding its operations beyond crypto trading through acquisitions, including Bitnomial, Reap, and NinjaTrader, while BNY has been developing tokenized deposits for institutional settlement.