UPDATE: Kraken parent Payward details six verticals in ongoing BNY talks
CIE News ·
Payward's potential BNY partnership spans custody, trading execution, wealth management, payments, crypto products, and shared infrastructure, according to crypto.news.
Negotiations between Kraken parent Payward and custody bank BNY target six distinct business areas, according to reports by crypto.news and CoinDesk. The prospective collaboration spans custody, trading execution, wealth management, payments, crypto products, and shared infrastructure, building upon an earlier report that the two companies were exploring an infrastructure partnership. Discussions are ongoing, and no final legal agreement has been finalized.
The initiative plans to deploy the Wyoming-chartered Payward Services platform to integrate regulated institutional crypto derivatives and clearing directly into BNY workflows. Sources told crypto.news and CoinDesk that portions of the proposed arrangement structurally resemble Payward's recent infrastructure collaboration with Nasdaq.
The discussions follow a series of expansion deals by Payward, including the purchase of crypto derivatives platform Bitnomial for up to $550 million, a $600 million deal for Reap, and the acquisition of NinjaTrader for $1.5 billion. In September 2026, Nasdaq Ventures completed a $100 million investment into Payward at a $21 billion valuation.