Kraken Parent Seeks National Trust Charter for Expanded Crypto Custody Services

Kraken's parent entity Payward has taken another significant step in its expansion plans, submitting an application to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust company charter.

This move would establish Payward National Trust Company (PNTC), which would provide custody and fiduciary services under federal oversight with a focus on digital asset management.

Payward has already secured a Wyoming Special Purpose Depository Institution (SPDI) charter, which it obtained in 2020, and achieved a historic milestone by becoming the first digital asset-focused bank to secure a Federal Reserve master account.