Payward Expands Beyond Crypto Trading with Global Banking Push

Payward is exploring banking services outside of the U.S., signaling a strategic shift that goes beyond its core crypto trading business. The company's leadership says this move aligns with its push into asset management and other financial infrastructure offerings.

Speaking at the Wyoming Blockchain Symposium 2026, co-CEO Dave Ripley said Payward is actively assessing where it could operate as a full bank. He noted that the company is focusing on three major product areas: trading, banking, and asset management. Ripley described banking as a combination of payments, lending, yield, and custody.

Payward operates Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution launched in March 2024. The entity is authorized to offer digital asset custody and institutional deposit accounts, but it cannot lend fiat and lacks FDIC insurance. Earlier this year, Kraken Financial secured a limited-purpose Federal Reserve master account.

Ripley said obtaining conventional banking status in other jurisdictions could help Payward offer more of its financial products to a wider customer base. He emphasized that broader licensing would allow the company to scale services that users already rely on.