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      BNY Mellon in Talks with Kraken Parent Payward for Infrastructure Partnership

      BNY Mellon is reportedly engaged in discussions with Payward, the parent company of cryptocurrency exchange Kraken, regarding a potential financial infrastructure partnership. While neither company has publicly confirmed the negotiations, the collaboration could enhance Payward's existing relationships with traditional financial institutions.

      The focus of the discussions appears to be on infrastructure, although specific details of any potential agreement have not been disclosed. BNY Mellon recently launched tokenized deposit services for institutional clients in January 2026, which included partnerships with major firms such as ICE and Citadel Securities. Tokenized deposits represent traditional bank deposits on a blockchain-style ledger, allowing for faster and more flexible transactions.

      Payward has had a busy year, recently announcing a partnership with SoFi aimed at enabling 24/7 USD settlements through the SoFi Exchange Network. Additionally, Nasdaq Ventures invested $100 million in Payward, valuing the company at $21 billion, as it continues to explore tokenized equities with the London Stock Exchange. In Q2 2026, Payward reported adjusted revenues of $508 million, reflecting a 17% increase from the previous year.

      Despite the potential benefits of a partnership with BNY Mellon, the discussions come amid a complicated history, including a legal discovery request from Payward Oceanic Ltd. directed at BNY Mellon in June 2026, which is unrelated to the current negotiations. A partnership with BNY would further solidify Payward's position in the financial landscape, complementing its existing collaborations with various financial entities.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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