The First Crypto US Bank: Kraken Received Licensing From The Wyoming Banking Board

  • The Wyoming Banking Board has voted to approve an application for a special purpose depository institution (SPDI) charter of Kraken.
  • This means that the exchange will get access to the existing federal payments infrastructure.
  • It will also allow Kraken to further integrate funding and banking options to its clients, said the managing director of the exchange and the CEO of Kraken Financial.

By becoming a bank we get direct access to federal payments infrastructure, and we can more seamlessly integrate banking and funding options for customers. – David Kinitsky said.

  • Additionally, the license will allow Kraken to provide its services to clients in more jurisdictions and won’t have to deal with the state-by-state compliance part.
  • The news comes less than two months after the Office of the Comptroller of the Currency (OCC) in the US issued a letter allowing U.S. Federal banks to offer crypto custody services.
You Might Also Like:
  • The OCC had also revealed that its approval limits banks to a specific type of cryptocurrency custody. Hence, financial institutions can store copies of the private keys of their customers or hold the assets themselves in well-secured cold storage facilities.
SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited – first 200 sign-ups & exclusive to CryptoPotato).

Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.


The post appeared first on CryptoPotato

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 97,066.01 2.76%
Ethereum (ETH) $ 3,322.45 7.15%
Tether (USDT) $ 0.999784 0.34%
Solana (SOL) $ 253.65 7.63%
BNB (BNB) $ 619.30 1.14%
XRP (XRP) $ 1.11 0.87%
Dogecoin (DOGE) $ 0.38263 0.01%
USDC (USDC) $ 0.999351 0.21%
Lido Staked Ether (STETH) $ 3,322.15 7.25%
Cardano (ADA) $ 0.788549 4.86%