Kraken Secures First Crypto Federal Reserve Master Account in US History

Kraken has made history by becoming the first crypto asset bank in the United States to receive a Federal Reserve master account.

The approval, granted to Kraken Financial, will enable the company to connect directly to the Federal Reserve's payment system, including Fedwire, and send U.S. dollar payments without relying on correspondent banking partners.

This development is seen as a significant milestone for digital asset companies seeking direct access to traditional financial systems. By gaining direct access to U.S. payment rails, Kraken can speed up transfers for institutional clients and large traders.