Blockchain and Crypto, Member Exclusive
Kraken is first cryptocurrency exchange to receive state bank license
- Kraken becomes the digital asset exchange to get a banking license.
- The firm will launch Wyoming-based Kraken Financial.
In a move that may pave the way toward mainstream acceptance for digital assets, an exchange received the first Wyoming banking license granted to a cryptocurrency firm.
What’s going on: The Wyoming Banking Board will issue Kraken, a San Francisco-based crypto exchange, a special purpose depository institution charter.
- Headquartered in Cheyenne, Wyoming, Kraken Financial will enable Kraken clients in the U.S. to bank between digital assets and national currencies.
- Kraken clients will be able to hold digital assets and pay bills and get paid in cryptocurrencies within a regulated, US institution.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — $59/mo Already an Outlier member? Sign in to your account