Crypto Turnaround at Fed With Kraken Decision and Possible New Chair

Fed Crypto Shift as Kraken Secures Account; Trump Nominee to Senate

Recent movements by the US Federal Reserve signal an emerging willingness to integrate digital assets into the country’s monetary infrastructure at the highest level. Kraken, a long-standing player in crypto markets, became the first crypto exchange to secure a Federal Reserve master account through its Wyoming-chartered bank, Kraken Financial. The move underscores a broader trend toward institutionalized crypto activity, while political develop…

Crypto Turnaround at Fed With Kraken Decision and Possible New Chair

A master account gives a financial institution access to dollars directly within the Federal Reserve system.

Kraken's Fed Access Ends Crypto's Reliance on Fragile Bank Partnerships

Kraken announced Wednesday that its banking subsidiary Kraken Financial has been granted a Federal Reserve master account – the first time a digital asset-focused bank has secured direct access to the US central bank's payment infrastructure.The approval allows Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution (SPDI), to connect directly to Fedwire and other core US payment rails. In practice, this means the exchange c…