Payward Secures Vasp Registration in VI
Payward, parent company of cryptocurrency exchange Kraken, has received Virtual Asset Service Provider (VASP) registration enabling it to offer regulated digital asset services from the Virgin Islands. The announcement was made during Day 2 of Fintech on the Seas at Necker Island on June 23, 2026, and is being hailed as an endorsement of the territory’s balanced approach to innovation and regulation.
Payward, the unified financial infrastructure platform that is parent company to global cryptocurrency exchange Kraken, has secured Virtual Asset Service Provider (VASP) registration in the Virgin Islands (VI). The move, announced during Day 2 of Fintech on the Seas at Necker Island on Tuesday, June 23, 2026, allows Payward to provide regulated digital asset services to clients operating from or through the Territory.
Government officials and industry representatives welcomed the development as a major boost for the BVI’s growing digital assets ecosystem. Hon Smith said Payward’s decision to establish a presence in the VI is “a strong endorsement of the progressive balance we have achieved between fostering innovation and maintaining a robust approach to regulation.” She added that as parent company to one of the world’s most trusted digital asset platforms, Kraken, Payward’s commitment to “security, transparency and compliance aligns closely with the values that underpin our financial services industry.” On her personal Facebook page Hon Smith noted Kraken’s global reach — operating in more than 190 countries — and described Payward’s licensing as “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!” she wrote. Elise Donovan, Chief Executive Officer of BVI Finance, said Payward’s licensing further demonstrates confidence 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,” Donovan said.
For BVI residents, the development could translate into increased demand for local professional services—legal, compliance, accounting and IT—along with potential job opportunities in fintech and support sectors. It reinforces the Territory’s positioning as a competitive jurisdiction for digital asset firms that seek regulated market access together with established financial services infrastructure.
As Payward integrates into the local ecosystem, regulators and industry bodies will be watched closely to ensure consumer protections and anti-money laundering safeguards remain robust while the Territory attracts new digital asset businesses and investment.
Primary source: VINO