Technology, Business

September 17, 2020

Kraken cryptocurrency exchange become a US bank


The Gist

The popular cryptocurrency exchange will be able to provide banking services to Americans in 49 states starting 2021. 

The List

  • The San Francisco based cryptocurrency exchange has received approval from the Wyoming Banking Board to become a registered and regulated bank. 
  • The announcement comes 2 months after US regulators gave the green light to federally chartered banks to hold cryptocurrency assets. 
  • Kraken Financial will provide a number of services including cryptocurrency savings accounts and cryptocurrency backed debit cards. 
  • Banking services will be available in all American states except New York. 

Additional information

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