Kraken's Parent Company Seeks Federal Bank Charter Amid Institutional Crypto Surge

Kraken's parent company Payward has taken a significant step towards becoming the first crypto native federal bank in the US by filing for an OCC charter. This move would grant the exchange direct access to Federal Reserve payment rails, further solidifying its position in the industry.

Morgan Stanley's launch of a Bitcoin ETF at 0.14% fees is also making waves in the market, offering institutional investors a way to gain exposure to Bitcoin. The crypto market is witnessing a surge in institutional investment, with traditional finance building permanent infrastructure for digital assets.