Kraken Financial has become the first digital asset bank in U.S. history to secure a Federal Reserve master account. The Wyoming-chartered institution now possesses direct access to the central bank’s core payment systems, including the Fedwire funds transfer service.
This approval follows years of regulatory engagement and establishes Kraken as a directly connected financial institution. The move bridges the gap between digital assets and the traditional financial system by removing the requirement for intermediary banks.
Institutional clients will benefit from faster, more efficient, and lower-cost U.S. dollar transfers. Kraken will no longer operate as a peripheral participant in the payment ecosystem.