BNY and Kraken Parent Payward Eye Global Financial Infrastructure Partnership
PYMNTS | ·
BNY and Kraken parent company Payward are discussing a partnership that would span digital assets and financial market infrastructure, CoinDesk reported Friday (Oct. 2), citing unnamed sources. The agreement could include crypto products, custody, wealth management, trading, payments and infrastructure offerings that are provided by Payward’s B2B platform for banks, exchanges and asset managers, Payward Services, according to the report. The discussions remain underway, […] The post BNY and Kraken Parent Payward Eye Global Financial Infrastructure Partnership appeared first on PYMNTS.com .
BNY and Kraken parent company Payward are discussing a partnership that would span digital assets and financial market infrastructure, CoinDesk reported Friday (Oct. 2), citing unnamed sources.
The agreement could include crypto products, custody, wealth management, trading, payments and infrastructure offerings that are provided by Payward’s B2B platform for banks, exchanges and asset managers, Payward Services , according to the report.
The discussions remain underway, and there is no certainty they will result in an agreement, per the report.
Both BNY and Payward declined CoinDesk’s request for comment, the report said.
The report compared the potential partnership to the infrastructure part of Payward’s recent agreement with Nasdaq .
Nasdaq said in a Sept. 10 press release that Nasdaq Ventures agreed to invest $100 million in Payward as part of a broader expansion of the partnership between Nasdaq and Payward. The expansion will also see the companies continue to advance their work on the Nasdaq Equity Token (NET) framework and adopt a new market surveillance agreement.
The investment will support the continued evolution of tokenized market infrastructure, Nasdaq said at the time. The NET framework is expected to launch NETs in the second quarter of 2027, part of the establishment of a foundation for how tokenized equities can move across different market environments.
CoinDesk interviewed Payward Co-CEO Arjun Sethi and reported Sept. 27 that Payward is making a multibillion-dollar bet on its future as a financial infrastructure provider.
The report said that Payward has spent heavily on acquisitions that expanded its footprint in the futures and derivatives spaces and into tokenized stocks, and gone after additional banking capabilities in the U.S. and Europe.
The moves are part of a larger goal of transforming Payward into a unified financial platform combining trading, banking, asset management and services for other businesses.
Meanwhile, PYMNTS reported in July that BNY sees blockchain ’s future inside the banking system. Reporting on BNY’s second quarter earnings call, PYMNTS said that the bank is extending its existing position at the center of global capital markets into the infrastructure connecting conventional money, tokenized assets and blockchain networks.
BNY CEO Robin Vince said during the call: “Payments, liquidity, collateral, digital assets and securities markets are becoming more interconnected, creating demand for infrastructure that operates with greater speed, certainty and resilience. We believe this represents one of the defining opportunities for financial services over the next decade, and it is an area where BNY is well positioned to lead.”
The post BNY and Kraken Parent Payward Eye Global Financial Infrastructure Partnership appeared first on PYMNTS.com .