BNY in Talks with Payward for Digital Asset Collaboration

BNY is in discussions with Payward, the parent company of the cryptocurrency exchange Kraken, regarding a collaboration that encompasses digital assets and financial market infrastructure. The potential agreement may involve areas such as cryptocurrency products, custody, wealth management, trading, payments, and infrastructure. These services will be provided through Payward Services, targeting banks, exchanges, and asset management firms. Some aspects of the proposed collaboration may be similar to the infrastructure components of the recent agreement Payward reached with Nasdaq. Negotiations are still ongoing, and there is no guarantee that a final agreement will be reached.