Kraken parent Payward explores becoming a ‘full bank’ outside the US
Payward is expanding across banking, lending and asset management, with mortgages a future possibility.
Payward, the parent company of crypto exchange Kraken, is exploring the possibility of becoming a full bank outside of the United States as it broadens its focus to include asset management and other financial services. Speaking at the Wyoming Blockchain Symposium 2026, Payward and Kraken co-CEO Dave Ripley did not disclose the specific jurisdictions or licenses the company is pursuing, but indicated that trading, banking, and asset management are key areas of focus.
Ripley explained that banking encompasses payments and money movement, lending, yield, and custody, all of which Payward currently provides. While Payward operates Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution authorized to offer digital asset custody and deposit accounts for institutions, it does not lend fiat currency or offer FDIC insurance.
Receiving a limited-purpose skinny Federal Reserve master account earlier this year enabled Kraken Financial to connect to parts of the central bank's payment system, a first for a crypto company. Payward's Chief Commercial Officer, Mark Greenberg, hinted at potential future services, such as mortgage offerings, if clients request such products.
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