Kraken father or mother firm Payward has utilized for a nationwide belief constitution from the OCC to launch a federally regulated digital asset custody entity referred to as Payward Nationwide Belief Firm (PNTC).
The transfer would assist Payward broaden its institutional enterprise by providing bank-level custody and belief providers to purchasers that require a regulated certified custodian.
The corporate additionally introduced plans to lift funds at a reported $20 billion valuation.
Kraken father or mother firm Payward is looking for a nationwide belief constitution from the US Workplace of the Comptroller of the Foreign money (OCC). If permitted, Payward would be capable of set up the Payward Nationwide Belief Firm (PNTC), which might provide custody and associated providers for digital belongings.
With PNTC, Payward plans to serve institutional purchasers and particular person clients looking for regulated, bank-level custody and belief providers for digital belongings. The constitution will leverage Payward’s current infrastructure, threat administration, compliance packages, and subsidiaries to determine a federally regulated custody providing beneath OCC oversight. The regulated providing will broaden entry for institutional purchasers who require a federally regulated certified custodian, broadening Payward’s shopper base within the US.
“Our long-held perception has all the time been that the appropriate path ahead for digital belongings runs by means of sturdy, clear regulation,” stated Payward and Kraken Co-CEO Arjun Sethi. “A nationwide belief firm offers the knowledge establishments require and establishes the infrastructure to construct the subsequent era of custody. This isn’t about being first; it’s about getting the framework proper so markets can scale with readability, interoperability, and long-term imaginative and prescient for what purchasers will demand as these methods mature.”
Together with its nationwide belief constitution announcement, Payward additionally disclosed that it’s looking for to lift capital at a $20 billion valuation. Whereas Payward didn’t touch upon the matter, specialists speculate the funds shall be used to gasoline acquisitions. The Wyoming-based firm acquired stablecoin funds firm Reap for $600 million earlier this month and acquired digital asset derivatives platform Bitnomial for $550 million in April. These offers comply with Payward’s 2025 mega deal to buy NinjaTrader for $1.5 billion.
Taken collectively, the belief constitution software, funding, and ramp-up in acquisition exercise are getting ready Payward for its IPO. Nonetheless, whereas the corporate filed its S-1 in November of 2025, it halted IPO plans in March, citing unfavorable market circumstances.
For Kraken, the belief constitution might assist deepen its position in institutional finance with out changing into a conventional financial institution. As an alternative of pursuing a full banking constitution, Payward seems centered on constructing regulated custody and belief capabilities round digital belongings, probably permitting it to broaden relationships with institutional traders, asset managers, and enterprises looking for compliant crypto infrastructure.
Picture by Kindel Media
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