Wells Fargo Reportedly Negotiating With Payward to Source Crypto Trading Liquidity

Payward, the company behind the Kraken exchange, is in discussions to act as a crypto liquidity provider for Wells Fargo, according to two people with direct knowledge of the matter. Under the possible arrangement, the Wyoming based firm would supply liquidity for trading digital assets. The sources asked not to be named because the talks are private, and they stressed that no deal is guaranteed. Both companies declined to comment. Exchanges often act as the entry point to digital asset liquidity for banks, offering access to trading venues and helping fill orders. Coinbase Prime, for example, pools liquidity from several markets, while Kraken sells banks technology to add crypto trading to their own platforms.

Why Banks Are Turning to Crypto Firms

Under a friendlier regulatory climate during the Trump administration, major lenders increasingly view established crypto companies as business partners. The GENIUS Act, signed in July 2025, created a federal framework for payment stablecoins. Banks once struggled with this sector, and Anchorage Digital CEO Nathan McCauley told the Senate Banking Committee in February 2025 that over 40 banks turned down its account requests.

Wells Fargo Crypto and Digital Asset Strategy

The bank offers spot Bitcoin ETFs to eligible wealth clients and has backed Elliptic and Talos. It has also announced blockchain-based deposits, joined a stablecoin consortium and hired former Citi banker Mark Gracia. It advised Nasdaq on its September agreement to invest $100 million in Payward.

Payward Talks With BNY and Business Scope

Payward is also negotiating a broad infrastructure partnership with BNY. Beyond Kraken, it provides spot trading, derivatives, tokenized equities, custody and staking, with its Payward Services unit serving banks and fintechs.