Wells Fargo In Talks With Kraken Parent Payward For Liquidity

Payward, the parent company of crypto exchange Kraken, is in talks to become a crypto liquidity provider to U.S. financial giant Wells Fargo, according to sources with direct knowledge of the matter. Under the potential deal, Wyoming-based Payward would supply liquidity for trading digital assets, though discussions remain ongoing and may not result in an agreement. Both Payward and Wells Fargo declined to comment on the matter.

Institutional Crypto Integration

Crypto exchanges frequently act as gateways to digital asset liquidity for traditional banks and institutional investors, providing access to trading venues and order execution. The discussions between Payward and Wells Fargo highlight a broader trend of major banks deepening their involvement in digital assets, supported by an increasingly accommodating U.S. regulatory climate under President Donald Trump’s administration. Signaled by the GENIUS Act signed in July 2025, a clearer federal framework for payment stablecoins has helped bridge crypto markets and the banking system.

Expanding Digital Asset Footprint

Wells Fargo has previously expanded its digital asset activities by offering spot bitcoin exchange-traded funds to eligible wealth clients, backing compliance firm Elliptic and trading technology provider Talos, and joining a consortium to develop a dollar stablecoin. The bank also advised Nasdaq on its $100 million investment in Payward. Separately, Payward is in talks with custody banking giant BNY over a broad financial-infrastructure partnership spanning crypto products, custody, wealth management, trading, and payments.

Key facts

• Payward is in talks to supply crypto trading liquidity to Wells Fargo.
• Wells Fargo previously advised Nasdaq on its $100 million investment in Payward.
• Both Payward and Wells Fargo declined to comment on the ongoing discussions.
• Payward is also in talks with custody banking giant BNY over a financial-infrastructure partnership.