WOO X Signs Memorandum of Understanding (MOU) with Payward Services

WOO X, a global centralized digital asset exchange, has signed a memorandum of understanding (MOU) with Payward Services, the B2B infrastructure platform from Payward — the parent company of crypto exchange Kraken. The agreement aims to enable spot crypto trading for WOO X’s European users, powered by Payward's regulated European infrastructure and licensing.

Under the proposed arrangement, WOO X will join a growing list of financial institutions using Payward Services’ trading-as-a-service offering. That list already includes bunq, a European neobank. The partnership would allow WOO X to offer cryptocurrency trading without building its own compliance and regulatory stack from scratch.

“We’re excited to bring WOO X the power of fifteen years of Payward's regulated infrastructure, creating an easy path to meet customer demand with an expanded trading offering and the right licenses to unlock crypto trading across the EU,” said Mark Greenberg, Global Head of Payward Services. He added that partners can typically launch crypto trading in a few weeks using Payward Services’ platform.

The MOU serves as a foundational framework for future cooperation between the two entities. Both organizations have indicated they will share further operational updates as specific initiatives are finalized. No timeline or specific regulatory approvals were disclosed in the announcement.

WOO X is backed by YZi Labs (formerly Binance Labs) and markets itself as a platform built for both retail and institutional traders. Payward Services draws on 15 years of operating Kraken to provide banks, fintechs, and exchanges with access to crypto trading, payments, and other digital asset services.