Donald Trump · CoinDesk
Wells Fargo in talks with Kraken parent Payward for crypto trading liquidity
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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.
Key facts
- The California-based financial services firm strengthened its digital assets team earlier this year by hiring former Citi (C) banker Mark Gracia
- The GENIUS Act, signed by Trump in July 2025, established a federal framework for payment stablecoins, providing clearer rules for a key link between crypto markets and the banking system
- Wells Fargo already offers spot bitcoin exchange-traded funds (ETFs) to eligible wealth clients and has backed crypto compliance firm Elliptic and trading technology provider Talos
- 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
Summary
Payward is in talks to become a crypto liquidity provider to Wells Fargo, according to sources. Wells Fargo previously advised Nasdaq on its $100 million investment in Payward. 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. Crypto exchanges often serve as gateways to digital asset liquidity for banks and institutional investors, providing access to trading venues and helping execute orders.