Wells Fargo is reportedly discussing a cryptocurrency liquidity arrangement with Payward, the parent company of Kraken, as major US banks expand their digital-asset operations.
According to CoinDesk, two people familiar with the discussions said Payward could provide liquidity supporting Wells Fargo’s cryptocurrency trading activities. Neither company has publicly confirmed the arrangement, and negotiations may conclude without an agreement.
Wells Fargo Expands its Crypto Strategy
Wells Fargo already provides eligible wealth-management clients access to spot Bitcoin exchange-traded funds.
The financial institution has also made investments in the crypto compliance firm Elliptic and trading technology firm Talos. Some of its other digital asset projects involve blockchain deposits and being a part of the consortium that is making a dollar-pegged stablecoin.
In early 2026, Wells Fargo bolstered its digital assets team with the hiring of Mark Gracia from Citi. A partnership with Payward may enable the bank to reach the current cryptocurrency markets.
Payward Strengthens Institutional Partnerships
Payward is expanding beyond Kraken’s exchange operations into institutional trading, settlement, and tokenized financial infrastructure.
In September 2026, NASDAQ announced a USD 100 million investment in Payward, alongside cooperation involving tokenized equities and market surveillance. Wells Fargo served as NASDAQ’s exclusive capital-markets adviser on that transaction.
Payward also integrated Singapore Gulf Bank’s SGB Net, enabling selected institutional clients to access 24/7 digital-asset settlement, initially supporting US dollar transactions.
These developments illustrate growing demand for financial infrastructure operating beyond conventional banking hours.
Traditional Banks Seek Crypto Infrastructure
Previously, financial institutions worked internally to develop cryptocurrency exchanges; they are now starting to work with already existing digital asset providers. This may provide a bank with market connectivity, trading liquidity, and operational infrastructure while the financial institution keeps its existing customer relationships.
Payward is in talks with BNY about further financial infrastructure collaboration that may include custody, payments, and trading services. However, the proposed Wells Fargo arrangement remains preliminary.
What Happens Next?
Critical details remain undisclosed, including supported cryptocurrencies, liquidity commitments, commercial terms and implementation timelines. A confirmed agreement would strengthen Payward’s institutional positioning and potentially accelerate Wells Fargo’s cryptocurrency trading expansion.
For now, the discussions highlight growing cooperation between established banks and crypto-native infrastructure providers, although their commercial impact depends on formal agreements and execution.
Also Read: US Government Sends USD 71 million in Bitcoin to Coinbase Prime
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