Kraken Parent Payward Pursues Federal Trust Charter
Payward, the parent company behind cryptocurrency exchange Kraken, is seeking a national trust charter from the Office of the Comptroller of the Currency (OCC). The move would position Kraken Financial as a federally regulated banking entity, marking a significant step toward mainstream institutional integration.
What an OCC National Trust Charter Means for DeFi
The OCC national trust charter is a rare credential in crypto. It would allow Kraken Financial to operate as a legitimate custodian and fiduciary, handling client assets under federal oversight rather than state-by-state regulation. This complements Kraken's existing Money Services Business licenses and creates a more comprehensive banking infrastructure.