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Kraken Fed Master Account Still Inactive Despite Historic Approval
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Kraken Fed Master Account Still Inactive Despite Historic Approval
Krakens Wyoming-chartered bank made history in March by becoming the first crypto-focused institution to receive approval for a Federal Reserve master account. However, months after securing the milestone, the account has yet to become operational, highlighting the challenges of integrating crypto firms into the U.S. banking system. A Fed master account allows banks to hold funds directly with the Federal Reserve and transfer U.S. dollars throug…
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