Wells Fargo is in talks with Kraken’s parent company Payward to have Payward provide liquidity support for its digital asset trading operations, including market depth and trade execution. Nasdaq invested $100 million in Payward in September 2026 at a valuation of about $21 billion, with Wells Fargo serving as exclusive capital markets advisor. Payward is also in talks with BNY for infrastructure cooperation covering digital asset products, custody, wealth management, trading, and payments.