Kraken Financial, a newly formed division of the popular crypto exchange, has become the first firm to receive a special type of charter making it a bank. On Wednesday, the Wyoming Banking Board approved the exchangeâs application for a special purpose depository institution (SPDI) charter â making it a licensed bank in the state, replete with access to federal payments infrastructure and opening the doors to issuing digital-asset debit cards and savings accounts as well as securities and commodities services. Kraken Financial beat out Wyoming blockchain pioneer Caitlin Longâs application for Avanti Financial, and is the first bank established in Wyoming since 2006.
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