BNY in talks with Kraken parent Payward over infrastructure partnership
BNY is reportedly in private discussions with Kraken's parent company, Payward, to form a strategic infrastructure partnership. The potential deal aims to integrate digital-asset operations with traditional banking services, including custody, wealth management, and tokenized settlement.
Why it matters
This collaboration signals a growing trend of institutional adoption of cryptocurrency infrastructure, bridging the gap between traditional finance and digital assets.
The potential agreement could cover areas including crypto products, custody, wealth management, trading, payments and infrastructure, the people said. These offerings are provided through Payward Services , the company’s business-to-business platform for banks, exchanges and asset managers.
Elements of the proposed partnership could resemble the infrastructure component of Payward’s recent agreement with Nasdaq , one of the people said, speaking on condition of anonymity because the talks are private.
Discussions are ongoing, and there is no guarantee an agreement will be reached.
Both Payward and BNY declined to comment.
A deal with BNY would further Payward’s push to connect its digital-asset operations with established financial institutions. BNY, formerly known as Bank of New York Mellon, provides custody, asset servicing, clearing and wealth-management services to institutional clients.
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