The announcement of Payward, the parent company of Kraken, securing its Virtual Asset Service Provider (VASP) registrations from the BVI Financial Services Commission (FSC), was made on Day 2 of Fintech on the Seas 2026. Photo: BVI Finance

Payward is a unified financial infrastructure platform. Photo: Internet Source

Kraken is a global cryptocurrency exchange operating since 2011. Photo: Internet Source

Payward is a unified financial infrastructure platform and the parent company of Kraken, a global cryptocurrency exchange operating since 2011. These registrations will enable Payward to provide regulated digital asset services to clients operating from or through the Virgin Islands (VI), adding one of the world's largest digital asset infrastructure providers to the jurisdiction's growing digital assets ecosystem. 

The announcement was made during Day 2 of Fintech on the Seas at Necker Island on Tuesday, June 23, 2026. "Payward’s decision to establish its presence in the Virgin Islands is a strong endorsement of the progressive balance we have achieved between fostering innovation and maintaining a robust approach to regulation. As parent company to one of the world's most trusted digital asset platforms, Kraken, its commitment to security, transparency and compliance aligns closely with the values that underpin our financial services industry. We are delighted to welcome the business to the Virgin Islands and look forward to supporting its continued growth,” Hon Smith said. 

A win for the VI

Extending her public congratulatory message on her personal Facebook Page, Hon Smith added that with Kraken reaching more than 190 countries worldwide, this is another encouraging step forward for the VI as growth as a trusted home for innovative financial services and digital assets continues. 

“We are especially pleased to see Payward’s commitment to the local economy and look forward to the positive opportunities this can bring for the Territory. This is a win and a step in the right direction for the BVI!”

Meanwhile, Chief Executive Officer of BVI Finance, Elise Donovan, said the VI has long been a cornerstone of international finance and that Payward’s licensing is another strong endorsement of the VI as a trusted jurisdiction for digital assets and further demonstrates the continued confidence that leading global firms have in the VI’s legal framework, regulatory architecture and professional ecosystem. 

"From tokenisation and stablecoins to blockchain-based financial services, we are seeing continued demand from innovative businesses looking for a jurisdiction that combines regulatory certainty with the flexibility to support responsible innovation.”