BNY Pursued Financial Infrastructure Deal With Payward
The banking institution has entered discussions regarding a potential partnership with the financial firm Payward.
Updated on Oct. 2, 2026 in Financial Services
Live Poll
Do you trust partnerships between traditional banks and cryptocurrency exchanges?
BNY is currently in talks with Payward to establish a financial infrastructure partnership. This move follows a period of rapid development and investment for Payward in the digital asset and settlement space.
Why it matters
A collaboration between BNY and Payward would further integrate traditional banking with emerging blockchain-style settlement systems. Such a partnership could accelerate the industry shift toward 24/7 financial processing and tokenized assets.
Payward reported $508 million in adjusted revenue for Q2 2026, marking a 17% increase year-over-year. The company holds a current valuation of $21 billion following a recent $100 million investment from Nasdaq Ventures.
The players
BNY
The institution is a major global banking firm that has been actively integrating blockchain-style ledgers into its deposit services.
Payward
This firm is a financial services entity that provides infrastructure for digital asset trading and settlement.
Nasdaq Ventures
This is the venture capital arm of the global stock exchange company that focuses on investing in emerging financial technologies.
SoFi
This is a digital personal finance company that provides banking and lending services through its proprietary exchange network.
The details
The discussions build on BNY's existing work with tokenized deposit services, which utilize a blockchain-style ledger to facilitate fund transfers. Payward has recently expanded its infrastructure capabilities through similar agreements, including a September partnership with SoFi focused on USD settlement.
Timeline
January 2026: BNY launched its tokenized deposit services.
June 2026: Payward Oceanic Ltd. sought discovery from BNY Mellon.
Q2 2026: Payward earned $508 million in adjusted revenue.
September 3, 2026: Payward announced a partnership with SoFi.
September 10, 2026: Nasdaq Ventures invested $100 million in Payward.
Market Landscape
This potential partnership reflects the broader industry trend of integrating traditional banking systems with digital ledger technologies. It positions the involved firms to compete more effectively against emerging fintech players by modernizing core settlement infrastructure.
Customers of these institutions may see increased access to 24/7 USD settlement options and more efficient digital transaction processing. While these infrastructure changes are primarily backend developments, they pave the way for faster retail financial services.
The takeaway
The move underscores that established financial institutions are increasingly looking toward blockchain-based ledgers to maintain relevance in a 24/7 digital economy. Consumers should expect their standard banking apps to eventually support faster settlement times due to these backend upgrades.
What happens next
Nasdaq's Equity Tokens are scheduled for a prospective launch in Q2 2027.
Further reading
Learn more about the latest developments in Financial Services.
Live Poll
Do you trust partnerships between traditional banks and cryptocurrency exchanges?
