BNY is reportedly in talks with Payward, the parent company of crypto exchange Kraken, about an infrastructure partnership. The discussions matter because they could bring established bank infrastructure closer to digital asset custody, trading and payments.
What actually happened
According to CoinDesk, BNY and Payward, the parent company of Kraken, are in talks over a potential infrastructure partnership. The report, published 30 September 2026, said the agreement could span digital assets, custody, trading, payments and other financial market infrastructure. No deal terms, timeline or dollar figures were disclosed in the report. Neither BNY nor Payward issued a public statement confirming the scope or status of the talks, based on the available reporting. Payward is named in the report as the parent company of Kraken.
How we got here
Banks have increasingly explored partnerships with crypto firms as institutional demand for digital asset services grows. Custody, trading and payments are core areas where banks and exchanges have sought closer ties in recent years. The CoinDesk report gives no further detail on how talks began or whether earlier discussions took place between BNY and Payward. It also does not specify a timeline, deal structure or whether regulators have been involved. This leaves open how far along the discussions are.
Why this matters for you
If finalized, the partnership could let Kraken users and institutional clients access bank grade custody and settlement alongside Kraken's existing trading infrastructure. For institutional players, it signals a growing bridge between traditional custodian banks and crypto native platforms. For builders integrating with Kraken or Payward, it raises the possibility of new infrastructure tied to custody, trading or payments. The report does not confirm which services the deal would include, or whether retail users would notice changes to Kraken's platform or fees.
The bigger question
If BNY and Payward move from talks to a signed agreement, how deeply will legacy custodian banks and crypto native exchanges merge their infrastructure? Does this mark a shift where traditional banks become core service providers for digital assets, rather than outside competitors? The answer could define how custody, trading and payments operate across the crypto industry for years to come.
What to watch
No official confirmation has come from BNY or Payward as of 30 September 2026, when the discussions were first reported. Future milestones to track include a formal agreement announcement, disclosed deal terms and scope, and any regulatory filings tied to custody or payments infrastructure. Bonuz will continue following how traditional banks engage crypto infrastructure as these talks develop.
