Kraken Parent Payward Targets Full Banking License in Markets Outside US
TLDR
- Payward is exploring full banking licenses outside the U.S. as part of its global expansion.
- Dave Ripley named trading, banking and asset management as three core areas for Payward’s growth.
- Payward already provides payments, lending, yield products and custody services through its financial businesses globally.
- Kraken Financial operates under a Wyoming charter but cannot lend customers’ fiat deposits to borrowers.
- Mark Greenberg said Payward could eventually offer traditional financial products such as mortgages to customers.
Kraken parent Payward is exploring full banking licenses outside the United States as the company expands beyond crypto trading into banking, asset management and broader financial services.
Payward Looks at Full Banking Licenses Outside US
Payward and Kraken co-CEO Dave Ripley said the company is considering becoming a fully licensed bank in some international markets. He did not identify the countries under consideration or specify which banking licenses the company could pursue.
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