Payward Eyes Global Banking Licenses Amid Crypto Expansion

Payward, the parent company of cryptocurrency exchange Kraken, is exploring opportunities to obtain a full banking license in markets outside the US. This move aligns with the company's goal to expand its services beyond trading and into broader financial offerings.

At the Wyoming Blockchain Symposium 2026, Dave Ripley, co-chief executive officer of Payward and Kraken, stated that the US is not the immediate focus for this effort. He mentioned that the company is considering becoming a fully licensed bank in some markets beyond the US but did not specify which countries are under review.

Ripley described trading, banking, and wealth management as Payward's core business lines, emphasizing that 'banking means payments and money movement, lending, yield generation and custody.' He noted that the company already offers these services through its existing operations, including Kraken Financial, which is a special purpose depository institution (SPDI) in Wyoming.

Kraken Financial provides digital-asset custody and deposit account services to institutional clients but lacks the ability to use customer fiat deposits for loans or have accounts insured by the Federal Deposit Insurance Corp. The company has made progress in accessing the central bank's payment system, becoming the first crypto company to obtain limited access to a Federal Reserve master account earlier this year.