🎉 USA🇺🇸: Kraken becomes the first digital (crypto) bank to obtain a master account at the Federal Reserve

🎉 USA🇺🇸: Kraken becomes the first digital (crypto) bank to obtain a master account at the Federal Reserve

This means that the banking division of the cryptocurrency exchange can now connect to the main payment systems in the United States (including Fedwire) without using intermediary banks.

🧬 Background: Kraken Financial is registered in the state of Wyoming and operates as a Special Purpose Depository Institution (SPDI). It is a state-regulated bank that follows a full-reserve model, maintaining liquid assets equal to or exceeding 100% of clients’ fiat deposits.

🧬 Outlook: direct connectivity to the Federal Reserve’s payment infrastructure allows faster settlement of fiat transactions for institutional clients, while also reducing operational costs and dependence on intermediary banks.

🧬 Timeline: the integration process will take place gradually. Over time, these new capabilities will be incorporated into the broader infrastructure of Payward, the parent company of Kraken.

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