Wells Fargo in talks with Payward for crypto trading liquidity

Wells Fargo is in talks with Payward, parent of crypto exchange Kraken, over a deal in which Payward would supply liquidity for crypto trading, according to CoinDesk. The discussions mark another major U.S. bank moving deeper into digital assets as Wall Street ties into crypto market infrastructure.

• The arrangement would have Payward provide liquidity for crypto trading, though no terms, scope or timeline were disclosed.
• The talks follow separate Payward negotiations with BNY on a broad infrastructure partnership spanning custody, trading and payments, and a deal with Singapore Gulf Bank for 24/7 USD settlement.
• They extend Payward's push to position itself as financial infrastructure beyond its Kraken exchange business.