Payward, the parent company of crypto exchange Kraken, is negotiating a potential partnership with Bank of New York Mellon (BNY). According to sources familiar with the matter, closed-door talks between the two institutions target collaboration across six business areas. Key points of discussion include crypto custody services, trade execution, payment networks, wealth management, and financial infrastructure provision.
The anonymous source noted that portions of the discussions share similarities with the infrastructure collaboration recently agreed upon between Payward and stock exchange Nasdaq. Negotiations with BNY are currently ongoing and have not yet produced a formal agreement.
Two Complementary Infrastructures
Payward brings its product catalog from Payward Services to the negotiating table. This B2B division offers direct services to banks, exchanges, and asset managers. Their product suite spans crypto spot markets, derivatives, tokenized equities, custody, staking facilities, and payment solutions.
On BNY’s side, the custody banking giant has already developed a dedicated digital cash program for institutional clients, alongside its proprietary financial market infrastructure. The partnership paves the way to bridge BNY’s institutional ecosystem with Payward’s crypto asset execution engine.
Acquisition Trail and Capital Injections
The approach to BNY extends Payward’s drive to team up with established financial players. Last September, Nasdaq Ventures injected $100 million into Payward’s balance sheet. The funding round, which valued Payward at $21 billion, yielded an infrastructure project that now serves as a blueprint for their engagement with BNY.
Payward’s service suite expanded following a series of acquisitions involving two major firms throughout 2025. The company acquired derivatives platform Bitnomial in a deal valued at up to $550 million. Payward continued its expansion by acquiring NinjaTrader for approximately $1.5 billion. Both corporate actions bolstered Payward’s product portfolio ahead of pitching partnerships to institutions like BNY.
As of this writing, details of the discussions remain private with no definitive timeline for completion due to their confidential nature. However, the trajectory is clear: crypto infrastructure providers are increasingly integrating directly with mainstream wealth management and banking product lines.
Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
