Payward co-CEO Dave Ripley said at the Wyoming Blockchain Symposium that the company is focusing on three main business lines: trading, banking and asset management. He described banking as covering payments, lending, yield and custody, adding that Payward already has capabilities in all four areas. The company’s banking arm, Kraken Financial, has secured a Wyoming special purpose depository institution charter. Earlier this year, it also received a streamlined Federal Reserve master account, giving it access to parts of the central bank payment system. The remarks point to a broader effort by Payward to expand beyond trading and deepen its role in financial services, with attention on markets outside the United States.
Payward co-CEO Dave Ripley said at the Wyoming Blockchain Symposium that trading, banking and asset management are the company’s three main areas of focus.
Three business lines at the center of the plan
Ripley said Payward is prioritizing trading, banking and asset management as it develops its business.
Banking services span four functions
He said the banking segment includes payments, lending, yield and custody, and that Payward already has capabilities in all four.
Kraken Financial holds Wyoming charter and Fed account
Payward’s Kraken Financial has obtained a Wyoming special purpose depository institution charter. Earlier this year, it also received a streamlined Federal Reserve master account, allowing access to parts of the central bank payment system.
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