Wells Fargo is in talks with Payward, the parent company of crypto exchange Kraken, over a potential deal that would see Payward provide liquidity for the bank’s crypto trading operations.
Two people with direct knowledge of the discussions said Payward could supply liquidity for digital-asset trading. The talks are still ongoing and may not result in a deal. Neither Wells Fargo nor Payward commented on the discussions.
The talks would give Wells Fargo another way to expand its crypto offering without having to build every part of the trading infrastructure itself. For Payward, the potential relationship would further its push to become a financial-market infrastructure provider for banks and other institutions.
