Kraken Receives Bank Charter For First Crypto Bank In The US


According to an official announcement from the San Francisco-based exchange, it received the bank charter approval from the State of Wyoming for what it called the world’s first Special Purpose Depository Institution (SPDI).

Kraken Financial will be regulated in the same way as other banks in the US. The SPDI will allow Kraken to run a fully independent bank, which will cut down on the need to party with other financial institutions for banking services that may be needed.

Image Credits: Pixabay

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