Index Investing News
Thursday, August 28, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Kraken to Launch its Own Bank “Very Soon”

by Index Investing News
March 7, 2023
in Cryptocurrency
Reading Time: 3 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


Key Takeaways

  • Kraken Bank is on track to launch soon, according to Kraken chief legal officer Marco Santori.
  • Kraken originally won its bank charter approval in 2020.
  • The bank, fully online, will provide “comprehensive deposit-taking, custody and fiduciary services for digital assets.”

Share this article

The crypto industry may be suffering from a regulatory crackdown in the U.S., but that’s not preventing Kraken from seeking to launch its own bank.

Kraken Bank

The current regulatory climate isn’t scaring Kraken. 

The crypto exchange’s chief legal officer Marco Santori confirmed on The Scoop podcast that Kraken would soon be launching its own bank. “Kraken Bank is very much on track to launch, very soon,” he stated. “We’re going to have those pens with the little ball chains. We’re going to order thousands of them and attach them to the desks of Wall Street banks everywhere. With our logo.”

Kraken initially secured the State of Wyoming’s approval to form a Special Purpose Depository Institution (SPDI) in 2020. According to the company, Kraken Bank was the “first digital asset company in U.S. history to receive a bank charter recognized under federal and state law,” and will be the first regulated U.S. bank to provide “comprehensive deposit-taking, custody and fiduciary services for digital assets.”

Kraken Bank, headquartered in Cheyenne, was originally scheduled to launch in 2021, and then to launch in phases through 2022. Santori’s comments suggest that, despite setbacks and delays, Kraken Bank may finally be within reach. The bank indicated that its services would first be rolled out to existing U.S.-based Kraken clients, with a potential international expansion in the future. The bank is not planning on providing in-person services, instead keeping all operations online and via mobile devices.

Santori also addressed the regulatory crackdown the crypto industry is currently facing in the United States. Kraken recently reached a $30 million settlement with the Securities and Exchange Commission over its staking program, which it was ordered to shut down in the U.S. Crypto leaders have also accused the government of trying to cut off the crypto industry from the banking industry by putting pressure on banks themselves.  

“We’re returning to an era where banks are going to be very cautious as to what accounts they open,” said Santori. “Wall Street is going to be fine. Kraken and Coinbase are going to be okay. But the guy or gal who has a new idea about how to provide infrastructure to the crypto economy, it’s going to be a really tough road over the next few years for them. No question.”

Disclaimer: At the time of writing, the author of this piece owned BTC, ETH, and several other crypto assets.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.



Source link

Tags: BankKrakenLaunch
ShareTweetShareShare
Previous Post

Liberty Tours: Why Tourism Matters to Liberty

Next Post

Bitcoin network reaches record-breaking hash rate while taproot adoption picks up speed

Related Posts

BitX Mining V2 AI: Revolutionizing Bitcoin Mining in Turkey and Iran

BitX Mining V2 AI: Revolutionizing Bitcoin Mining in Turkey and Iran

by Index Investing News
August 27, 2025
0

The cryptocurrency mining landscape in Turkey and Iran is undergoing a significant transformation, driven by innovative technologies like BitX Mining...

Dogecoin Crash Incoming? Analyst Warns Bulls Are Out Of Time

Dogecoin Crash Incoming? Analyst Warns Bulls Are Out Of Time

by Index Investing News
August 27, 2025
0

Cause to belief Strict editorial coverage that focuses on accuracy, relevance, and impartiality Created by business specialists and meticulously reviewed...

Kraken Meets SEC Crypto Taskforce to Push for Readability on Tokenized Property

Kraken Meets SEC Crypto Taskforce to Push for Readability on Tokenized Property

by Index Investing News
August 26, 2025
0

Representatives of the crypto change Kraken not too long ago met with the SEC’s Crypto Activity Pressure to debate its...

Kraken Seeks SEC Blessing for twenty-four/7 Tokenized Inventory Buying and selling Platform

Kraken Seeks SEC Blessing for twenty-four/7 Tokenized Inventory Buying and selling Platform

by Index Investing News
August 27, 2025
0

Govt Interview with Andres Jimenez from Swiset | iFX EXPO Worldwide 2025 Govt Interview with Andres Jimenez from Swiset |...

Ethereum Is Inches from Historical past. Ethereum is within the information as soon as extra. | by Dipanshu Chaudhry | The Capital | Aug, 2025

Ethereum Is Inches from Historical past. Ethereum is within the information as soon as extra. | by Dipanshu Chaudhry | The Capital | Aug, 2025

by Index Investing News
August 27, 2025
0

Ethereum is within the information as soon as extra.At roughly $4,878 — simply $100 beneath its peak from November 2021...

Next Post
Bitcoin network reaches record-breaking hash rate while taproot adoption picks up speed

Bitcoin network reaches record-breaking hash rate while taproot adoption picks up speed

A Dozen Questions for Jerome Powell, Fed Chair

A Dozen Questions for Jerome Powell, Fed Chair

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

New Cryptocurrency ICO FreeDum Fighters Raises 5,000 In Opening Weekend

New Cryptocurrency ICO FreeDum Fighters Raises $225,000 In Opening Weekend

October 22, 2024
Top 10 Best Dividend Aristocrats

Top 10 Best Dividend Aristocrats

September 6, 2023
XRP Retraces 15% After Reaching 10-Month High Of alt=

XRP Retraces 15% After Reaching 10-Month High Of $0.58 In The Past Week

April 9, 2023
Who Is Tino Franco? Facts About ‘The Bachelorette’ Star – Hollywood Life

Who Is Tino Franco? Facts About ‘The Bachelorette’ Star – Hollywood Life

September 21, 2022
My Weekly Studying for November 10, 2024

My Weekly Studying for November 10, 2024

November 10, 2024
San Diego’s Workplace Gross sales and Costs Decelerate

San Diego’s Workplace Gross sales and Costs Decelerate

November 27, 2024
the previous Hong Kong cop Beijing trusts is sworn in

the previous Hong Kong cop Beijing trusts is sworn in

July 1, 2022
BTC Regularly Slides to K

BTC Regularly Slides to $37K

April 25, 2022
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In