Wells Fargo in Talks with Kraken's Parent Company for Crypto Trading Liquidity Partnership

Kraken's parent company, Payward, is in discussions with Wells Fargo to become its liquidity provider for cryptocurrency trading. Negotiations are still ongoing, and an agreement may not be reached; both parties declined to comment. Previously, Wells Fargo had offered a spot Bitcoin ETF to eligible wealth management clients and served as the exclusive capital markets advisor for Nasdaq's $100 million investment in Payward in September. Additionally, Payward is also in talks with BNY for collaboration.

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