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

  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 8 hours ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 3 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 4 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 6 days ago
  • New All-Time High for BTC: Weekly Market Outlook & Strategy 7 days ago

    • You need to login to comment.