In brief: Kraken gets a Fed main account

Kraken Financial, a subsidiary of Kraken based in Wyoming, is the first digital asset bank in the United States to receive a master account from the Federal Reserve (Fed). This historic milestone positions Kraken as a pioneer in the rapprochement between traditional finance and cryptoactives.

Kraken Financial can now access the Fed's payment infrastructure without going through intermediary banks. This is the first time a digital asset bank has received this access. This access aims to simplify and accelerate flows, reduce costs and limit operational dependencies. This model paves the way for settlements between cryptocurrency and fiat currencies, innovative institutional cash management and the emergence of programmable and regulated financial products.

This is the result of more than five years of ongoing dialogue and in-depth audits with regulators in Wyoming and the United States. This recognition also highlights the compliance and operational strength of the Kraken model.

This integration must take place in stages, starting with institutional clients, with ongoing supervision of regulators.

Accelerated convergence

This decision marks a major step, allowing Kraken to integrate its crypto infrastructure on the tracks of traditional finance into a robust regulatory framework. This represents a new step towards the structural integration of digital and traditional finance.

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate