Wells Fargo in Talks With Kraken Parent Payward Over Crypto…
By Karthik Subramanian
AI summary of the source article
Wells Fargo is in discussions with Payward, the parent company of Kraken, regarding a potential agreement to supply liquidity for digital-asset trading, according to a CoinDesk report. The private talks have not been confirmed by either firm and may not lead to an agreement. Under the potential framework, Payward would provide execution technology and trading liquidity, enabling Wells Fargo to participate in crypto markets without building dedicated infrastructure. This follows Payward's institutional partnerships, including an integration with SoFi and reported discussions with BNY. Wells Fargo already offers spot Bitcoin ETFs to select wealth-management clients and holds investments in Elliptic and Talos.
Why it matters
The talks illustrate how traditional banks are seeking partnerships with established digital-asset firms to access crypto liquidity and execution technology while avoiding the burden of building proprietary trading infrastructure.
Key facts
- Wells Fargo is reportedly in talks with Kraken's parent company, Payward, to provide digital-asset trading liquidity.
- Payward recently partnered with SoFi for Kraken Prime liquidity and has discussed infrastructure services with BNY.
- Wells Fargo already offers spot Bitcoin ETFs to eligible wealth clients and holds investments in Elliptic and Talos.