BNY weighs digital asset infrastructure deal with Kraken parent Payward: CoinDesk

BNY is in talks with Payward, the parent company of crypto exchange Kraken, over a broad partnership spanning digital assets and traditional financial-market infrastructure, according to a CoinDesk report citing people familiar with the discussions. The potential agreement could cover crypto products, custody, wealth management, trading, payments and infrastructure offered through Payward Services, the company’s business-to-business platform for banks, exchanges and asset managers. Discussions remain ongoing and may not result in a deal. Parts of the partnership could resemble Payward’s infrastructure agreement with Nasdaq, according to one person familiar with the talks. Nasdaq Ventures agreed in September to invest $100 million in Payward while expanding an existing collaboration around tokenized equities and always-on market infrastructure. The companies are developing the operational and commercial infrastructure for Nasdaq Equity Tokens, with a launch targeted for the second quarter of 2027. Under that agreement, Payward will connect Nasdaq’s tokenized equities framework with its xStocks infrastructure and adopt Nasdaq’s market-surveillance technology across its trading venues...