BNY, a US-based custody bank that provides asset servicing, clearing, and wealth management to institutions, is reportedly in private talks with Payward, the Wyoming-based parent of crypto exchange Kraken, on a broad partnership in digital assets and financial market infrastructure.

The discussions could cover crypto products, custody, wealth management, trading, payments, and infrastructure, though they may not lead to a deal.

Parts of the talks could resemble Payward’s recent arrangement with Nasdaq, which Nasdaq said would help advance tokenized equities.

Payward has been expanding beyond crypto trading into broader financial services. Last month, Nasdaq Ventures agreed to invest US$100 million in Payward at a US$21 billion valuation as the companies expanded work on tokenized equities.

That push goes beyond spot crypto trading.

Kraken Pro already supports stocks and exchange-traded funds.

BNY has also been developing tokenized deposits for near-real-time on-chain settlement between institutional market participants, part of its broader push into digital-asset infrastructure.

🔗 Source: CoinDesk

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