Wells Fargo in talks with Kraken parent Payward over crypto trading liquidity
Wells Fargo is reportedly discussing a crypto trading liquidity deal with Kraken's parent company, Payward, as major financial institutions expand their digital asset offerings.
Wells Fargo is in discussions with Payward, the parent company of cryptocurrency exchange Kraken, to provide liquidity for crypto asset trading, CoinDesk reported, citing two people with direct knowledge of the matter. The potential partnership would enable the $2.3 trillion bank, the fourth-largest lender in the United States, to facilitate cryptocurrency trading without developing its own internal trading infrastructure from scratch.[3][4][2][1][6]
The talks remain ongoing and might not result in a final agreement. Wells Fargo has already entered the digital asset space by offering spot Bitcoin exchange-traded funds to eligible wealth management clients and participating in a consortium working on a dollar-pegged stablecoin.[2][6][5][7]
Payward is also engaged in separate negotiations with BNY regarding a broader infrastructure partnership. That contemplated deal could encompass custody, crypto products, trading, payments, and wealth management services.[2][1]
Key facts
- Wells Fargo is in discussions with Kraken parent Payward to act as a liquidity provider for crypto trading.
- The liquidity arrangement would let Wells Fargo expand into crypto trading without building trading infrastructure from scratch.
- Discussions between Wells Fargo and Payward are ongoing and may not result in a deal.
- Wells Fargo manages roughly $2.3 trillion in assets and is the fourth-largest bank in the United States.
- Wells Fargo already provides spot Bitcoin ETFs to eligible wealth clients and joined a group developing a dollar stablecoin.
- Payward is separately discussing an infrastructure partnership with BNY covering crypto custody, trading, wealth management, and payments.
Sources · 7 sources
- TM
That Martini Guy ₿@MartiniGuyYTPost on X ·
Wells Fargo is in talks with Kraken’s parent company, Payward, to provide crypto trading liquidity The deal would see Payward supply the liquidity needed for Wells Fargo to execute trades This would allow the bank to expand into crypto without building its own trading infrastructure from scratch Payward is also in separate talks with BNY over crypto trading, custody, payments and wealth management infrastructure
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
Wells Fargo, America’s Fourth-Largest Bank, in Talks With Kraken Parent Payward for Crypto Trading Liquidity as Major Banks Deepen Digital Asset Involvement Wells Fargo is in talks with Kraken parent Payward over a potential deal under which Payward would supply liquidity for crypto asset trading, CoinDesk reported, citing two people with direct knowledge of the matter. The discussions are ongoing and may not result in a deal. Payward is separately in talks with BNY over a broader financial infrastructure partnership that could cover crypto products, custody, wealth management, trading and payments. The talks highlight how major banks are increasingly turning to established crypto companies to support their digital asset ambitions.
Open source - CO
CoinDesk@CoinDeskPost on X ·
SCOOP: Wells Fargo in talks with Kraken parent Payward for crypto trading liquidity @willcanny99 reports https://t.co/avkyMQevnz
Open source - CO
CoindeskArticle ·
Wells Fargo in talks with Kraken parent Payward for crypto trading liquidity The discussions would see Payward supply liquidity for crypto trading as major banks deepen their involvement in digital assets.
Open source - CN
crypto.news@cryptodotnewsPost on X ·
BIG: Wells Fargo reportedly exploring a crypto liquidity deal with Kraken’s parent company Payward could provide crypto trading liquidity to the $2.3T bank, which already offers spot Bitcoin ETFs to eligible wealth clients, although talks are ongoing and no deal has been finalized.
Open source - CB
Coin Bureau@coinbureauPost on X ·
🚨JUST IN: $2.3 TRILLION Wells Fargo is reportedly in talks with Kraken's parent over crypto trading liquidity. Payward, Kraken's parent company, would act as a crypto liquidity provider to the bank. Wells Fargo already offers spot Bitcoin ETFs to eligible wealth clients and has joined a group developing a dollar stablecoin. Talks are ongoing and may not result in a deal, per CoinDesk.
Open source - BL
BlockNews@blocknewsdotcomPost on X ·
🚨 JUST IN: $2.3 TRILLION Wells Fargo is reportedly in talks with Kraken’s parent company, Payward, over crypto trading liquidity, per CoinDesk. Payward would act as a crypto liquidity provider to the bank. Talks remain ongoing and may not result in a deal. https://t.co/QQnZJ02b0L
Open source