Kraken parent company applies for OCC charter in move toward banking

Kraken's parent company, Payward, has applied for a charter with the Office of the Comptroller of the Currency (OCC) to operate as a national bank. This move aims to enhance its regulatory framework and expand its financial services, including offering crypto-related banking products. If approved, the charter would allow Kraken to provide more robust services to its customers and potentially attract institutional clients. The application reflects a growing trend among cryptocurrency firms seeking to integrate more closely with traditional banking systems.

Read the full article: Coin Telegraph