Kraken’s Wyoming bank secures one-year Federal Reserve master account with Tier 3 status
On March 4, Kraken said its Wyoming-chartered bank, Kraken Financial, obtained a Federal Reserve master account with Tier 3 status and an initial one-year, limited-purpose term. The approval lets the firm settle US dollar payments directly on Fed rails, positioning it as a live test of the Fed’s emerging payments-only access framework that could reshape how regulated crypto institutions connect to core US payment services.
