Key Takeaways
- • Wells Fargo is in talks with Payward, the parent company of crypto exchange Kraken, to obtain liquidity for its crypto trading expansion, according to a report first published by CoinDesk.
- • Payward Services, Payward's infrastructure division serving banks, fintechs, brokerages and payment companies, could let Wells Fargo offer crypto trading without building its own exchange infrastructure.
- • Wells Fargo already offers spot Bitcoin ETFs to eligible wealth-management clients and has backed compliance firm Elliptic and trading technology provider Talos.
- • Wells Fargo plans an initial 2026 rollout of tokenized deposits for corporate and commercial clients, enabling around-the-clock settlement, initially for select U.S. dollar-to-British pound transactions.
Summary
Wells Fargo & Company (WFC) is planning to expand its cryptocurrency trading capabilities, and is in talks with Payward, the parent company of cryptocurrency exchange Kraken, to obtain liquidity for crypto trading. The development was first reported by CoinDesk and was summarized by The Globe and Mail. Liquidity is central to executing trades efficiently and supporting the smooth functioning of digital-asset markets, so a finalized arrangement would deepen the bank's role in crypto trading infrastructure and could strengthen its relationships with crypto-market participants.
Payward offers trading and financial infrastructure through its Payward Services division, which serves banks, fintechs, brokerages and payment companies. According to the report, this infrastructure could allow Wells Fargo to offer crypto trading services without building its own exchange infrastructure. The reporting does not disclose deal terms, values or a timeline for any agreement.
The bank already has meaningful exposure to digital assets. It offers spot Bitcoin exchange-traded funds to eligible wealth-management clients and has backed crypto compliance firm Elliptic and trading technology provider Talos.
Wells Fargo is also advancing its blockchain-based payments capabilities. The bank plans to launch tokenized deposits for corporate and commercial clients, with an initial rollout scheduled for this year. The offering is designed to let eligible clients transfer and settle funds around the clock, initially supporting select U.S. dollar-to-British pound transactions. The initiative reflects the bank's effort to modernize its payments infrastructure and respond to corporate demand for faster, more flexible settlement.
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Payward offers trading and financial infrastructure through its Payward Services division, which serves banks, fintechs, brokerages and payment companies. According to the report, this infrastructure could allow Wells Fargo to offer crypto trading services without building its own exchange infrastructure. The reporting does not disclose deal terms, values or a timeline for any agreement.
The bank already has meaningful exposure to digital assets. It offers spot Bitcoin exchange-traded funds to eligible wealth-management clients and has backed crypto compliance firm Elliptic and trading technology provider Talos.
Wells Fargo is also advancing its blockchain-based payments capabilities. The bank plans to launch tokenized deposits for corporate and commercial clients, with an initial rollout scheduled for this year. The offering is designed to let eligible clients transfer and settle funds around the clock, initially supporting select U.S. dollar-to-British pound transactions. The initiative reflects the bank's effort to modernize its payments infrastructure and respond to corporate demand for faster, more flexible settlement.
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