BNY discusses digital asset infrastructure partnership with Kraken parent Payward
CIE News ·
Custody bank BNY is in talks with Kraken parent Payward regarding an infrastructure partnership across digital assets, custody, and payments, according to CoinDesk.
Custody banking giant BNY is in discussions with Kraken parent company Payward to form a partnership centered on digital assets and financial-market infrastructure, CoinDesk reported, citing people familiar with the matter. The potential agreement could encompass custody, trading, crypto products, wealth management, and payments delivered via Payward Services, the firm's business-to-business unit.
Talks between the two institutions are ongoing with no guarantee of a final deal, according to the report. Sources noted that parts of the proposed arrangement may resemble the infrastructure framework of Payward's recent partnership with Nasdaq, which included a $100 million investment by Nasdaq Ventures at a $21 billion valuation.
The potential collaboration comes as BNY develops tokenized deposits to facilitate real-time settlement for institutional clients. Meanwhile, Payward continues to broaden its market presence following acquisitions including NinjaTrader, Bitnomial, and Reap, while targeting an initial public offering in the second quarter of 2027 at the earliest.