CoinDesk
Payward, the parent company of Kraken, is in talks to provide crypto trading liquidity to Wells Fargo, according to people familiar with the discussions. The potential arrangement would give the US bank access to liquidity for digital-asset trading, though talks are ongoing and may not result in a deal. Both companies declined to comment.
Why it matters
The discussions point to a growing role for established crypto firms as infrastructure partners to traditional finance. Banks can use exchange technology and liquidity to support digital-asset trading without building every part of the system themselves. Payward also offers infrastructure to banks, fintechs, brokerages and payment companies.
Wells Fargo already offers spot bitcoin ETFs to eligible wealth clients and has backed crypto-focused firms Elliptic and Talos. It has also announced plans for blockchain-based deposits and joined a consortium developing a dollar stablecoin. The bank advised Nasdaq on its September agreement to invest $100 million in Payward and deepen collaboration on tokenized equities and market surveillance.
Market impact
No agreement or financial terms have been announced, so the immediate signal is strategic rather than a confirmed new trading channel. If completed, a liquidity arrangement could connect a major US bank more directly to established crypto-market infrastructure.
Payward is also in separate talks with BNY over a broad financial-infrastructure partnership that could cover crypto products, custody, wealth management, trading and payments. Together, the discussions highlight how institutional adoption can take shape through partnerships with crypto-native providers.
Frequently asked questions
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What would Payward provide to Wells Fargo?
Payward could supply liquidity for Wells Fargo's crypto trading. The discussions are ongoing and may not result in a deal.
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Why might a bank work with a crypto company for trading liquidity?
Crypto firms can connect banks to digital-asset liquidity and trading infrastructure, helping them serve clients without building every component themselves.
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What digital-asset services does Wells Fargo already offer?
Wells Fargo offers spot bitcoin ETFs to eligible wealth clients. It has also announced plans for blockchain-based deposits and joined a consortium developing a dollar stablecoin.
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How is Wells Fargo connected to Nasdaq's investment in Payward?
Wells Fargo advised Nasdaq on its September agreement to invest $100 million in Payward and deepen collaboration on tokenized equities and market surveillance.
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Is Payward discussing another partnership with a bank?
Yes. Payward is separately in talks with BNY about a broad financial-infrastructure partnership that could cover custody, wealth management, trading and payments.
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