MEXC and Payward Forge Crypto-TradFi Convergence at TOKEN2049
MEXC and Payward Highlight Collaboration as Crypto and TradFi Converge at TOKEN2049
MEXC and Payward—the parent company of Kraken—used a panel at TOKEN2049 Singapore to outline how crypto markets and traditional finance are moving closer together, and what that could mean for the next generation of trading platforms.
In the discussion, MEXC CEO Vugar Usi Zade and Payward Co-CEO Arjun Sethi focused on three themes: broader market access, growing retail demand for seamless trading, and the potential for exchanges to collaborate rather than compete head-on in every area.
Both executives framed the convergence as part of a shift toward more connected, “always-on” markets, where users expect access to multiple asset classes through a smoother experience than today’s fragmented landscape.
Usi Zade argued that blockchain-based infrastructure is putting pressure on traditional market structures that still rely on fixed trading hours. He said he expects a move toward a more unified trading experience over the next several years, with retail users playing a central role. “Over the next five years, we’ll see a convergence toward a singular platform where asset classes and investments can move quickly and smoothly,” he said. “Retail will be the main driver.”
Sethi addressed what makes that vision difficult to execute, pointing to the operational and financial plumbing required for continuous markets. He said that offering 24/7 trading is ultimately an infrastructure question—particularly how assets and collateral can be brought into a more connected environment. “24/7 trading really means: how do you bring all that collateral into one place?” he said.
A second major thread was collaboration between platforms. Sethi said scaling to a much larger global user base may require partnerships with firms that have complementary strengths, and he cited MEXC as an example. “The only way to do that is to partner with folks, including MEXC, to be able to help succeed in their core markets,” he said.
Usi Zade similarly suggested that exchanges can increasingly build on one another’s strengths, rather than treating every opportunity as a zero-sum competition. The panel contrasted MEXC’s positioning—described as retail-first, with deep liquidity and experience in perpetual markets across crypto and TradFi-linked assets—with Payward’s focus on global financial infrastructure, professional trading capabilities, and experience in the U.S. market.
The conversation built on the companies’ earlier indication that they are exploring broader collaboration. During the panel, both executives pointed to infrastructure, market access, and distribution as areas where deeper connectivity between platforms could create value.
Trust and transparency were also emphasized as foundational requirements as markets become more interconnected. Usi Zade highlighted trust and access as key building blocks for future financial platforms, while Sethi stressed transparency as the industry evolves.
Together, the panel reflected an industry narrative that has been gaining momentum: as crypto and traditional finance converge, exchanges may compete on certain features while also partnering to expand reach, improve access, and support a more continuous, cross-asset trading experience.
