Kraken Financial Secures Federal Reserve Master Account as First Directly Connected Digital Asset Bank

Kraken Financial has obtained a Federal Reserve master account, becoming the first digital asset bank with direct access to the U.S. central bank's core payment infrastructure, including Fedwire, after more than five years of regulatory engagement involving Payward and U.S. supervisors. Operating as a Wyoming Special Purpose Depository Institution, Kraken Financial is required under Wyoming's framework to maintain a full-reserve model in which liquid assets equal or exceed one hundred percent of client fiat deposits, integrating regulated fiat liquidity into digital asset operations managed by Payward. The bank plans a phased rollout of its new payment capabilities, initially targeting institutional clients on the Kraken platform and expanding services over time in coordination with federal authorities and Wyoming regulators.