Wells Fargo is discussing a crypto liquidity partnership with Payward, the parent company of Kraken, according to CoinDesk, which cited a source. If an agreement is reached, Payward would serve as the bank’s crypto liquidity provider. The talks point to a possible expansion of Wells Fargo’s crypto-related services, though no deal has been announced.
The report also notes that Wells Fargo already allows eligible wealth management clients to trade spot Bitcoin exchange-traded funds. In addition, the bank has invested in crypto compliance company Elliptic and trading technology provider Talos. Those existing moves show the bank has already built exposure to parts of the digital asset market tied to compliance, trading infrastructure, and client access to regulated Bitcoin products.
No further terms of the potential cooperation were disclosed in the source report.
Wells Fargo is in talks with Payward, the parent company of Kraken, about a crypto liquidity partnership, according to CoinDesk, which cited a source.
If the two sides reach an agreement, Payward would become Wells Fargo’s crypto liquidity provider.
Wells Fargo already offers spot Bitcoin ETF trading to eligible wealth management clients. The bank has also invested in crypto compliance company Elliptic and trading technology provider Talos.
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