Wells Fargo in Talks With Kraken Parent Payward for Crypto Trading Liquidity

A large U.S. bank sourcing crypto liquidity from an exchange operator's parent would mark another step in the gradual convergence of traditional banking and digital-asset market structure, where banks increasingly prefer to plug into existing venues rather than build trading infrastructure themselves. The signal matters less for Wells Fargo specifically than for the template it implies: regulated banks leaning on crypto-native firms for execution and market-making. Whether the talks produce a deal, and whether other banks follow the same route, is the open question.