BNY Mellon in Talks to Form Partnership with Kraken Parent Company

BNY Mellon, the powerful custody bank, is in talks with Payward, the parent company of cryptocurrency exchange Kraken, to form a broad partnership that includes digital assets and financial market infrastructure.

The proposed agreement may encompass various services such as crypto products, custody, wealth management, trading, payments, and infrastructure, according to CoinDesk's report.

Talks between the two parties are ongoing, with no guarantee of a deal being reached. If an agreement is made, it would likely resemble the infrastructure component of Payward's recent partnership with Nasdaq.

This potential partnership would represent significant progress in connecting digital-asset operations with established financial institutions and underscore the growing integration of digital assets into traditional financial systems.