BNY Mellon and Kraken's Parent Company Explore Partnership on Digital Assets

BNY Mellon and Payward, the parent company of cryptocurrency exchange Kraken, are exploring a partnership that would combine digital assets with traditional financial market infrastructure. The potential agreement could include products such as crypto custody, wealth management, trading, payments, and infrastructure offerings.

The discussions between BNY Mellon and Payward's B2B platform for banks, exchanges, and asset managers, known as Payward Services, remain ongoing, but there is no guarantee they will result in a partnership. Both companies declined to comment on the matter.

This potential collaboration follows an agreement between Nasdaq and Payward, which saw Nasdaq Ventures invest $100 million in Payward. The investment supports the development of tokenized market infrastructure, specifically the Net Equity Token (NET) framework.