BNY Kraken Crypto Alliance
BNY and Kraken Parent Explore Six-Part Crypto Partnership Across Multiple Business Lines
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Key Points
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Nasdaq Ventures’ September investment valued Payward at $21 billion, according to Bloomberg reporting cited by Coinlaw.io.
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Nasdaq’s collaboration with Payward includes developing infrastructure for Nasdaq Equity Tokens, with launch targeted for the second quarter of 2027; Payward is also expected to connect the framework to its xStocks infrastructure and use Nasdaq market-surveillance technology across its trading venues.
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Payward’s businesses extend beyond spot crypto trading to derivatives, tokenized equities, staking and traditional securities, in addition to custody and payments.
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BNY shares rose 1.3% in Friday afternoon trading following news of the discussions, according to GuruFocus.
Bank of New York Mellon is in talks with Payward, the parent company of crypto exchange Kraken, to form a broad partnership spanning six areas: crypto products, custody, wealth management, trading, payments, and financial-market infrastructure GuruFocus. The discussions center on Payward Services, a business-to-business platform serving banks, exchanges, and asset managers. No deal has been announced, and talks may not result in an agreement CoinLaw.
BNY shares rose 1.3% on Friday following the news GuruFocus. The potential tie-up reflects both companies' push into digital assets: Payward recently secured a $21 billion valuation from Nasdaq Ventures in September, while BNY develops tokenized deposits and onchain settlement services CoinLaw.
Payward's Expanding Traditional Finance Push
Payward has aggressively built ties with Wall Street. Nasdaq Ventures' September investment valued the company at $21 billion CoinLaw. The two firms are also collaborating to develop infrastructure for Nasdaq Equity Tokens, with a launch target of the second quarter of 2027 CoinLaw.
Under the Nasdaq partnership, Payward will connect the equity-token framework to its xStocks infrastructure and deploy Nasdaq's market-surveillance technology across its trading venues CoinLaw. These moves position Payward as a bridge between crypto markets and traditional finance.
What Payward Services Brings to BNY
Payward Services is a business-to-business platform designed to serve banks, exchanges, and asset managers. It would give BNY direct access to Payward's network of institutional clients already using crypto trading, custody, and payment rails GuruFocus.
Payward's services span far beyond spot crypto trading. The company operates derivatives venues, handles tokenized equities, manages staking, processes traditional securities, and offers custody and payment solutions CoinLaw. A partnership would let BNY white-label or integrate these offerings.
BNY's Digital-Asset Strategy Takes Shape
BNY has steadily built digital-asset capabilities in recent years. The bank now offers tokenized deposits, onchain settlement, and custody solutions for institutions entering crypto CoinLaw. A deal with Payward would dramatically accelerate this expansion by adding trading, payments, and wealth-management layers.
The discussions are ongoing and no agreement is guaranteed. GuruFocus and CoinLaw both caution that talks may not lead to a deal. For now, Kraken customers have no action to take — any partnership would target institutional clients and BNY's own business lines.
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