BNY Entered Infrastructure Talks With Payward
Financial firms are exploring infrastructure links as Payward deepens its focus on automated USD settlement systems.
Updated on Oct. 2, 2026 in Financial Services
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BNY has entered discussions with Payward regarding a potential financial infrastructure partnership. This move comes as Payward expands its settlement capabilities following an agreement with SoFi earlier this year.
Why it matters
The collaboration could reshape how firms handle liquidity and settlement, reflecting a broader industry shift toward blockchain-style ledgers for moving funds. Payward is scaling its operations rapidly, backed by recent major capital inflows.
Payward reported $508 million in adjusted revenue for Q2 2026, marking a 17% increase over the same period in 2025. The company recently secured a $100 million investment from Nasdaq Ventures.
The players
BNY
A global financial institution providing custody, asset management, and banking services to institutional clients.
Payward
A financial infrastructure firm currently valued at $21 billion that operates settlement and digital asset platforms.
Nasdaq Ventures
The venture capital arm of the global stock exchange operator that invests in financial technology firms.
SoFi
A digital-first financial services company that offers consumer banking, lending, and investment products.
The details
BNY has been active in the tokenized deposit space since January 2026, utilizing blockchain-style ledgers to facilitate fund movement. Payward is simultaneously integrating its systems with partners like SoFi to enable 24/7 USD settlement. While Payward previously sought discovery from BNY Mellon in June 2026, the current talks signal a shift toward integration.
Timeline
January 2026: BNY launched tokenized deposit services.
June 2026: Payward Oceanic Ltd. sought discovery from BNY Mellon.
Q2 2026: Payward generated $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
The potential partnership between BNY and Payward underscores the rapid development of blockchain-style settlement systems. This follows the broader industry trend of integrating tokenized deposits to support the upcoming launch of Nasdaq's Equity Tokens in Q2 2027.
Operators should monitor these infrastructure shifts as they may reduce settlement times and costs for cross-institution payments. Assess how your firm's banking partners are adopting tokenized deposit services to ensure your treasury operations remain competitive.
The takeaway
The move toward 24/7 settlement infrastructure is accelerating as institutional players like BNY and Payward align their technology stacks. Monitor Q2 2027 developments closely, as the launch of new equity token products could necessitate updates to your internal settlement workflows.
Further reading
For more information on the evolving tech stack in the sector, visit the Financial Services section.
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