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krak

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first_img BNY is in talks with Kraken's parent company Payward for infrastructure cooperation

According to CoinDesk, informed sources revealed that the custody bank giant BNY is in talks with Payward, the parent company of the cryptocurrency exchange Kraken, for a broad collaboration covering digital assets and financial market infrastructure. The potential agreement may involve areas such as crypto products, custody, wealth management, trading, payments, and infrastructure, with related services provided through Payward Services, which targets banks, exchanges, and asset management institutions.One source indicated that part of the proposed collaboration may be similar to the infrastructure component of the recent agreement Payward reached with Nasdaq. Negotiations are still ongoing, and there is no guarantee that an agreement will be reached; both Payward and BNY declined to comment. BNY, formerly known as Bank of New York Mellon, provides custody, asset services, clearing, and wealth management services to institutional clients and has been developing tokenized deposits to support near real-time on-chain settlements among institutional market participants.Reaching an agreement with BNY would further promote Payward's efforts to connect digital asset businesses with traditional financial institutions. Last month, Nasdaq Ventures agreed to invest $100 million in Payward at a valuation of $21 billion, expanding the collaboration between the two parties in tokenized stocks. Under the agreement, both parties will continue to develop the operational and commercial infrastructure for Nasdaq stock tokens, and Payward will also adopt Nasdaq's market surveillance technology in its cryptocurrency, stock, tokenized stock, futures, and options trading venues, with both parties expecting to launch Nasdaq stock tokens in the second quarter of 2027.

first_img Kraken launched xStocks Vault, allowing users to stake tokenized stocks to earn yields

According to The Defiant, Kraken has launched three xStocks vaults, allowing eligible customers to deposit SPYx, QQQx, and NVDAx into the vaults while earning floating returns while retaining exposure to tokenized stocks or ETFs. The vault initially shows an estimated net APY of 2% for SPYx and QQQx, and 1.8% for NVDAx. Kraken charges a 25% performance fee on vault earnings, and the displayed interest rate has already deducted this fee; rewards will be converted into the same type of xStock and automatically reinvested into the customer's balance.The strategy is designed by Sentora and is responsible for risk management, while Veda provides the vault infrastructure. After customers deposit xStock, Kraken transfers it to an embedded self-custody wallet on Ink, packages it, and deposits it into the Veda vault; Sentora then cross-chain transfers the packaged xStock to Solana and deposits it as collateral in the Kamino lending market. After borrowing stablecoins, it is deployed into selected DeFi strategies, and the returns are ultimately converted back into the deposited xStock. Customers do not need an external wallet or mnemonic phrase but can export the private key; redemption requires a three-day wait for funds to arrive.Kraken's documentation shows that the strategy uses leverage to generate returns by borrowing stablecoins and lists risks such as smart contracts, liquidity, bad debts, liquidation, cross-chain execution, and downstream assets, with losses shared proportionally among vault users. xStock holders do not have voting rights, dividend rights, or legal claims to the underlying stocks. The vault is currently available to the European Economic Area and other supported markets, while users from the United States, United Kingdom, Canada, Australia, the United Arab Emirates, and sanctioned countries cannot use it.

Nasdaq's $100 million strategic investment in Kraken's parent company, MoneyGram launches stablecoin Visa debit card

According to BBX data, yesterday and in recent days, major global stock exchanges and cross-border payment giants disclosed the latest business developments in the tokenized stock ecosystem and stablecoin retail settlement, with the core dynamics as follows:Nasdaq Ventures plans to invest $100 million in Kraken's parent company, with stock tokens set to launch in 2027: Cryptocurrency exchange giant Kraken's parent company Payward announced an expansion of its strategic cooperation with Nasdaq. Nasdaq's strategic investment division, Nasdaq Ventures, has reached an agreement with Payward to inject $100 million into it. The two parties will jointly promote the operational system and commercial infrastructure of Nasdaq Equity Tokens (NETs), which are expected to officially hit the market in the second quarter of 2027, and deeply connect Payward's xStocks tokenized equity ecosystem through the established cooperation framework.MoneyGram launches stablecoin debit card, initially supporting USDC for Visa network spending: Global traditional cross-border remittance giant MoneyGram announced the launch of a payment card supported by stablecoins. This card allows users to make purchases directly within the global merchant network that accepts Visa, with the initial market set in Colombia, gradually expanding to other countries and regions over the following months. Users can register through the MoneyGram App and link the electronic card to their mobile wallet for online and offline spending, as well as transfer funds to themselves and redeem local fiat currency cash at global offline locations. Initially, the card will support USDC issued by Circle, with plans to further integrate MoneyGram's proprietary stablecoin MGUSD in the future.
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