The exchange was given a “special-purpose depository institution license” from the state of Wyoming. As such, the license differs from a national bank license or industrial loan company charter, according to the article. Kraken will become the first regulated bank to provide “deposit-taking, custody and fiduciary services for digital assets,” it continues.
Estimated reading time: 0 minutes, 23 seconds
Kraken Nabs First-ever Bank Charter Granted to Crypto Exchange
Kraken has become the first cryptocurrency exchange to be granted a banking charter. So reports American Banker.
Most Read
-
-
Apr 27 2019
-
Written by FinTech News Brief Staff
The Securities and Exchange Commission announced the concept of digital…
-
-
-
Jan 16 2020
-
Written by FinTech News Brief Staff
Representatives from the Reserve Bank of Australia said they are…
-
-
-
Jan 09 2019
-
Written by FinTech News Brief Staff
Ripple CEO Brad Garlinghouse said cryptocurrency and blockchain stand to…
-
-
-
Sep 24 2020
-
Written by FinTech News Brief Staff
MicroStrategy Inc. became the first public company to invest “the…
-