Kraken, one of the world’s largest cryptocurrency exchanges, is working on establishing its own bank in the United States. Here are some key points and a step-by-step process:
Key Points
- Kraken is launching a crypto bank in the U.S.
- The bank will be based in the state of Wyoming.
- The bank aims to offer “a more seamless integration between crypto and the traditional financial system.”
- Kraken clients in the U.S. will be the first to access the bank, with potential international expansion.
Step-by-Step Process
- Kraken, one of the world’s largest cryptocurrency exchanges, is launching its own bank in the United States.
- The bank will be based in Wyoming, where Kraken was granted the first-ever special purpose depository institution (SPDI) charter.
- Kraken Bank aims to offer “a more seamless integration between crypto and the traditional financial system,” according to its website.
- Initially, the bank will be available to Kraken clients in the U.S.
- There is potential for international expansion in the future.
- The launch of Kraken Bank comes amid regulatory headwinds in the crypto industry.
Source: https://forkast.news/headlines/kraken-launch-u-s-crypto-bank-regulatory-headwinds/
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