BNY in Talks with Kraken Parent Payward for Major Crypto Infrastructure Partnership

BNY Kraken partnership — Banking giant BNY is in discussions with Payward, the parent company of crypto exchange Kraken, for a wide-ranging financial infrastructure partnership focused on digital assets, according to sources familiar with the matter.

The potential agreement, reported by CoinDesk, could span several key areas including crypto custody, trading, payments, wealth management, and other financial-market infrastructure services. These offerings would be 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 a recent commercial agreement Payward struck with Nasdaq. The talks highlight the continued push by major traditional financial institutions to build out their digital asset capabilities through strategic alliances with established crypto-native firms.

BNY, one of the world’s largest custody banks, and Kraken, a leading global cryptocurrency exchange, did not immediately provide official comment on the reported discussions. The partnership would mark a significant move to bridge traditional finance with the digital asset ecosystem.