Wells Fargo in talks with Kraken parent Payward for crypto trading liquidity
Source: CoinDesk ·
From the source
The discussions would see Payward supply liquidity for crypto trading as major banks deepen their involvement in digital assets. Payward, the parent company of crypto exchange Kraken, is in talks to become a crypto liquidity provider to U.S. financial giant Wells Fargo (WFC), according to two people with direct knowledge of the matter. Under the potential deal, Wyoming-based Payward would supply liquidity for trading in crypto assets, the people said, speaking on condition of anonymity because the matter is private. Talks are ongoing and may not result in a deal. Payward and Wells Fargo both declined to comment. Crypto exchanges often serve as gateways to digital asset liquidity for banks and institutional investors, providing access to trading venues and helping execute orders. For example, Coinbase Prime aggregates liquidity across multiple markets, while Kraken offers banks technology to integrate crypto trading into their own platforms, allowing them to serve clients without…