Payward, the parent company of cryptocurrency exchange Kraken, has applied for a US national trust bank charter with the Office of the Comptroller of the Currency (OCC). This move aims to enhance its regulated infrastructure by offering federally regulated custody services through the proposed Payward National Trust Company (PNTC). If approved, PNTC will provide digital asset custody services for institutional clients, strengthening Payward and Kraken's regulatory framework. Kraken Financial, which already holds a Wyoming special-purpose depository institution charter and a Federal Reserve master account, views the national trust charter as a significant step forward. Co-CEO Arjun Sethi emphasized that such a charter would provide the regulatory certainty institutions seek, facilitating the development of next-generation custody solutions. This application is part of Kraken's broader strategy to expand its regulated offerings, including recent acquisitions of NinjaTrader and Bitnomial, as it prepares for a potential initial public offering.