Wells Fargo in Crypto Liquidity Talks With Payward

Wells Fargo is in ongoing discussions with Payward, the parent company of cryptocurrency exchange Kraken, about a possible arrangement to provide liquidity for digital-asset trading, according to reporting based on people familiar with the talks. Neither company has announced an agreement, and the discussions could end without one. Under the arrangement being discussed, Payward could help Wells Fargo access liquidity and execute cryptocurrency trades. The reports do not establish whether the service would be for the bank’s customers, institutional clients or both. The assets that might be covered, operating model, commercial terms and any rollout timetable have not been disclosed. The account of the private discussions traces to a report citing two people with direct knowledge. Wells Fargo and Payward declined to comment to that publication. The other reports reviewed do not provide separate direct confirmation, and neither company has announced a signed agreement. The status therefore remains an unconfirmed potential relationship, not a launched service. The discussions come as Wells Fargo develops its digital-asset strategy.