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.
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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.
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