Kraken Parent Seeks OCC Charter

Kraken parent seeks OCC charter

Payward said a national trust charter would complement its special-purpose depository institution, Kraken Financial, which recently became the first crypto firm to receive a Federal Reserve master account.

Kraken Parent Payward Files for OCC National Trust Bank Charter

Payward, the parent company of crypto exchange Kraken, filed an application Friday with the Office of the Comptroller of the Currency for a national trust company charter. The proposed entity, Payward National Trust Company, would provide federally regulated digital-asset custody services to institutional clients nationwide. Payward Co-CEO Arjun Sethi described the move as part of a broader regulated-banking strategy. “Our long-held belief has a…

ICBA Warns Kraken OCC Charter Bid Threatens US Bank Deposits and Financial Stability

Community bankers are pushing back hard now that crypto exchanges are applying for national trust bank charters, with the Independent Community Bankers of America (ICBA) calling the move a threat to financial stability and consumer protections. At the same time, other bankers are concerned with the...

Payward Files Application for OCC National Trust Company, Deepening Commitment to Regulated Digital Asset Infrastructure

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