BNY Mellon Eyes Strategic Crypto Partnership with Kraken Parent Payward

Payward, the parent company of cryptocurrency exchange Kraken, is in talks with Bank of New York Mellon (BNY) over a six-part partnership that would cover various crypto products and services.

The discussions are reportedly focused on infrastructure, custody, wealth management, trading, payments, and more. Payward's business-to-business arm, Payward Services, could supply much of what the deal would cover.

Nasdaq Ventures agreed to invest $100 million in Payward last month, with parts of the BNY talks resembling that agreement.