[Wells Fargo in Talks with Kraken Parent Company Payward for Potential Collaboration to Expand Crypto Trading Business] BlockBeats News, October 12 – U.S. banking giant Wells Fargo is reportedly in discussions with Payward, the parent company of cryptocurrency exchange Kraken, to explore a potential partnership. The collaboration would involve Payward providing liquidity support for the bank's digital asset trading operations. The proposed partnership would see Payward offering market depth and trade execution support, enabling Wells Fargo to expand its crypto asset trading channels without having to build a complete trading infrastructure from scratch. Currently, the two parties are still in negotiations, and it has not been confirmed whether a final agreement will be reached. Both sides have declined to comment. Previously, Wells Fargo has offered Bitcoin spot ETFs to eligible wealth management clients and has invested in compliance technology firm Elliptic and trading platform service provider Talos. The bank has also been advancing blockchain deposit initiatives and participating in alliances related to USD stablecoins. In September 2026, Nasdaq announced a $100 million investment in Payward, valuing the company at approximately $21 billion, with Wells Fargo serving as the exclusive capital markets advisor for the transaction. Additionally, Payward is reportedly in talks with financial services giant BNY Mellon for broader infrastructure collaboration, potentially covering areas such as digital asset products, custody, wealth management, trading, and payments. These discussions have also not yet resulted in a finalized agreement. Payward continues to expand its footprint in traditional financial services. Reports indicate that the company is seeking to obtain a European banking license, with Lithuania as the target jurisdiction. In March 2026, Kraken Financial became the first digital asset bank to gain access to the Federal Reserve's payment infrastructure. Furthermore, Payward has also received authorization from the Dubai Virtual Assets Regulatory Authority. [Original Link]