Wells Fargo is reportedly in negotiations with Payward, the parent company of the Kraken crypto exchange. The discussions center on Payward providing cryptocurrency trading liquidity to the bank. Neither party has officially confirmed the talks, which were first reported by CoinDesk.
Payward is expanding its B2B services, including custody, payments, and settlement infrastructure. The company recently finalized a deal with SoFi on September 3, 2026, granting users access to Kraken Prime liquidity. Additionally, BNY Mellon has been in discussions with Payward regarding custody and wealth management since October 2, 2026.
The company's valuation reached $21 billion following a $100 million investment from Nasdaq in September 2026, a deal advised by Wells Fargo. Payward is currently integrating acquisitions like Bitnomial and NinjaTrader to bolster its derivatives and futures offerings.
Financial performance for Q2 2026 showed $508 million in adjusted revenue, representing a 17% year-over-year increase. The company currently reports 6.6 million funded accounts as it pivots from a standard exchange toward a broader financial services provider for institutional clients.
