Payward, the parent company of cryptocurrency exchange Kraken, has applied to the Office of the Comptroller of the Currency (OCC) for a national trust company charter. The proposed Payward National Trust Company (PNTC) aims to offer federally regulated digital asset custody services, targeting institutional clients requiring compliant custody solutions. This move builds on Kraken Financial's 2020 achievement of obtaining a Wyoming Special Purpose Depository Institution (SPDI) bank charter and Federal Reserve master account access.
In recent years, Payward has expanded its regulated trading, derivatives, and cross-border payment infrastructure through acquisitions of NinjaTrader, Bitnomial, and Reap Technologies. This strategic expansion underscores Payward's commitment to enhancing its regulatory compliance and service offerings in the digital asset space.
Kraken Parent Payward Seeks National Trust Charter for Digital Asset Custody
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