On March 4, 2026, the Federal Reserve Bank of Kansas City approved a limited master account for Kraken Financial, giving the crypto-focused bank unit direct access to core payment rails like Fedwire. Kraken can now move U.S. dollars without an intermediary, though it will not receive full bank privileges such as interest on reserves or access to the discount window.

A U.S. banking lobby has objected to the Federal Reserve Bank of Kansas City's decision to grant Kraken Financial a limited-purpose master account for an initial one-year term. The group warns the move could increase payment-system risks, set a precedent for crypto-focused institutions and was approved before a broader access framework is finalized.

Crypto exchange MEXC has expanded its tokenized equity lineup through Ondo Finance, adding 17 new onchain stock pairs that trade against Tether and waiving trading fees on them for the first 30 days. A separate announcement this week introduced seven additional tokens linked to US defense and energy companies, with withdrawals for the new assets scheduled to open on March 5. The latest listings build on a tokenized equity product MEXC and Ondo first launched in September 2025.

In a March Truth Social post, President Donald Trump accused banking groups of trying to weaken the GENIUS Act, a stablecoin regulation law passed in July, and of blocking broader U.S. crypto market structure legislation. He argued that banks, despite strong profits, should not influence rules for digital assets and warned that delays could drive crypto firms to move to countries like China with clearer regulations. At the center of the dispute are restrictions on stablecoin yield payments, which have divided banks and crypto industry representatives and slowed progress in the Senate.

Kraken’s banking unit has reportedly obtained a Federal Reserve master account, becoming the first crypto-native company to gain direct access to the U.S. central bank’s core payment systems. The approval enables direct U.S. dollar settlement on Fed infrastructure but does not grant full banking privileges such as earning interest on reserves.

Kraken’s banking subsidiary, Kraken Financial, has obtained a limited-purpose master account from the Federal Reserve Bank of Kansas, becoming the first crypto-linked firm with this type of access. The account lets Kraken connect directly to core Fed payment rails and reduce dependence on intermediary banks, although it does not include commercial-bank privileges such as interest on reserves or Fed lending facilities. The move is seen as a key infrastructure milestone for integrating digital asset businesses into the traditional US dollar payments system and broader financial markets.

SoFi Technologies' share price closed at $18.61 on March 3, 2026, after announcing an expanded partnership that will allow its SoFiUSD stablecoin to be used as a settlement option on Mastercard's global payments network. The company also disclosed that CEO Anthony Noto purchased roughly $1 million of SOFI stock in the open market, coinciding with a premarket rise to $19.23 on March 4. SoFiUSD, issued by SoFi Bank, N.A., is fully cash-reserved and is expected to support around-the-clock settlement for SoFi's card transactions.

Dycom Industries, Bath & Body Works, and Abercrombie & Fitch all posted fourth‑quarter results that came in ahead of analyst expectations, with revenue and EPS generally beating forecasts. Dycom reported record contract revenue and EPS, Bath & Body Works delivered higher‑than‑guided profitability despite slightly lower sales, and Abercrombie achieved record quarterly and full‑year net sales. Each company also issued full‑year outlooks, with Dycom and Abercrombie projecting continued growth and Bath & Body Works guiding to lower sales but resilient earnings.