BNY Reportedly in Talks with Kraken Parent Payward on Infrastructure Partnership
(2 hours ago) · 1 source · Summarized by CryptoBipto
Bank of New York (BNY), one of the world's largest custodian banks, is reportedly in discussions with Payward, the parent company of crypto exchange Kraken, about an infrastructure partnership. The details of the potential collaboration have not been fully disclosed. The talks signal growing interest from traditional financial institutions in working with crypto-native companies.
WHY IT MATTERS
Think of BNY as one of the biggest vaults and record-keepers in traditional finance — they help manage and safeguard trillions of dollars in assets for other institutions. Kraken, through its parent company Payward, is one of the most established platforms where people buy and sell cryptocurrency. When a major traditional bank explores working with a major crypto company on infrastructure — meaning the behind-the-scenes systems that make financial services run — it suggests that the worlds of traditional finance and crypto are becoming more connected. For newcomers, this kind of development is worth watching because it could affect how securely and efficiently crypto assets are handled at an institutional level, though nothing has been finalized yet.
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- coindesk.com
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