Payward, the parent company of crypto exchange Kraken, is in talks with Wells Fargo about becoming the bank’s crypto liquidity provider, according to CoinDesk, which cited two people with direct knowledge of the matter. Under the potential arrangement, Payward, based in Wyoming, would supply liquidity for digital asset trading. The talks are ongoing and may not result in a deal, the report said, and both Payward and Wells Fargo declined to comment. CoinDesk added that crypto exchanges often serve as the route through which banks and institutional investors access digital asset liquidity, offering venue connectivity and helping execute orders. The report also noted Wells Fargo previously served as Nasdaq’s exclusive capital markets adviser. In September, Nasdaq agreed to invest $100 million in Payward and deepen cooperation on tokenized equities and market surveillance. Separately, CoinDesk said Payward was also in talks last week with custody bank BNY on financial infrastructure cooperation.
Payward, the parent company of crypto exchange Kraken, is in talks with Wells Fargo to become the bank’s crypto liquidity provider, CoinDesk reported, citing two people with direct knowledge of the matter.
Under the potential arrangement, Payward, which is based in Wyoming, would provide liquidity for digital asset trading. The sources requested anonymity because the matter has not been made public. The talks are still ongoing and may not lead to an agreement, according to the report. Payward and Wells Fargo both declined to comment.
CoinDesk said crypto exchanges often act as the channel through which banks and institutional investors access digital asset liquidity, providing connectivity to trading venues and helping execute orders.
Wells Fargo previously served as Nasdaq’s exclusive capital markets adviser. In September, Nasdaq agreed to invest $100 million in Payward and expand cooperation in tokenized stocks and market surveillance.
CoinDesk also reported that Payward held separate talks last week with custody bank BNY on financial infrastructure cooperation.
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