Did big banks find Kraken’s parent company—does the money already enter the crypto market?
Headlines about institutional partnerships are easy to get excited about, but what exactly services are being sold through the partnership is worth asking—more than how big the difference is between the two company names.
On October 2, CoinDesk cited two people familiar with the matter, reporting that BNY is discussing an infrastructure partnership with Kraken’s parent company, Payward. The scope may include digital assets, custody, trading, payments, and wealth management. The report makes clear that the negotiations are still ongoing and does not guarantee that an agreement will be reached; both sides declined to comment.
My understanding is that if the partnership comes to fruition, one side could provide an institutional client entry point and an existing service framework, while the other side provides the relevant technical and business capabilities. The first potential beneficiaries would be onboarding efficiency and service revenue—not something that can be rewritten as “big banks start large-scale buying of crypto.”
Assets held for custody clients are also different from a bank investing its own money. As the scale of services grows, it needs to be verified separately whether it comes from migrating existing assets, new clients, or additional purchases. Looking only at the custody amount cannot answer that.
For the institutionalization narratives around BTC, ETH, and SOL, what is truly worth tracking is three things: whether there is a signed deal, which products are actually made available, and whether customers continue to use them. This article mentions these three coins in the context of institutional services, but the report did not confirm that they are part of the specific list of items proposed for the partnership.
I’ll observe the business details first and won’t jump to conclusions about future capital flows based on negotiation news.
The image is a stock photo of a Kraken-branded phone, not from a signed-deal现场.
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Headlines about institutional partnerships are easy to get excited about, but what exactly services are being sold through the partnership is worth asking—more than how big the difference is between the two company names.
On October 2, CoinDesk cited two people familiar with the matter, reporting that BNY is discussing an infrastructure partnership with Kraken’s parent company, Payward. The scope may include digital assets, custody, trading, payments, and wealth management. The report makes clear that the negotiations are still ongoing and does not guarantee that an agreement will be reached; both sides declined to comment.
My understanding is that if the partnership comes to fruition, one side could provide an institutional client entry point and an existing service framework, while the other side provides the relevant technical and business capabilities. The first potential beneficiaries would be onboarding efficiency and service revenue—not something that can be rewritten as “big banks start large-scale buying of crypto.”
Assets held for custody clients are also different from a bank investing its own money. As the scale of services grows, it needs to be verified separately whether it comes from migrating existing assets, new clients, or additional purchases. Looking only at the custody amount cannot answer that.
For the institutionalization narratives around BTC, ETH, and SOL, what is truly worth tracking is three things: whether there is a signed deal, which products are actually made available, and whether customers continue to use them. This article mentions these three coins in the context of institutional services, but the report did not confirm that they are part of the specific list of items proposed for the partnership.
I’ll observe the business details first and won’t jump to conclusions about future capital flows based on negotiation news.
The image is a stock photo of a Kraken-branded phone, not from a signed-deal现场.
$BTC $ETH $SOL
Click on my avatar to view verified live trading results
