Express

Kraken Becomes The First Regulated, U.S. Bank In Crypto Industry

Mary Liu

Summary: Kraken, a San Francisco-based crypto exchange, today announced that the State of Wyoming has approved its application to form the world’s first Special Purpose Depository Institution (SPDI). The newly formed institution Kraken Financial, becomes the first regulated, U.S. bank in the cryptocurrency field to provide deposit-taking, custody, and fiduciary services for digital assets, it is the first digital ...

Kraken, a San Francisco-based crypto exchange, today announced that the State of Wyoming has approved its application to form the world’s first Special Purpose Depository Institution (SPDI).

The newly formed institution Kraken Financial, becomes the first regulated, U.S. bank in the cryptocurrency field to provide deposit-taking, custody, and fiduciary services for digital assets, it is the first digital asset company in U.S. history to receive a bank charter recognized under federal and state law.

By Mary Liu

Last Update:

Tags: ,,,
Link: Kraken Becomes The First Regulated, U.S. Bank In Crypto Industry   [Copy]
Next:

Related Articles

  • BTC Weekly Outlook: A Bullish Week, but Signs Point to a Shift to Defensive Play 7 hours ago
  • Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 11 days ago
  • When Stablecoins Tear Down Banks’ Interest Margin Moats — A Third Look at the U.S. “Ge... 12 days ago
  • Twitter Space Highlight: Is Altcoin Season Coming? Unpacking BTC, Institutions & RWA 14 days ago
  • BTC Weekly: Momentum Top Divergence Signals Potential Shift Lower 14 days ago

    • You need to login to comment.