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Federal Reserve Approves Kraken Financial for Direct Access to U.S. Payment Systems

Kraken Financial is described as the first digital asset bank to receive approval for direct access to U.S. payment infrastructure, marking a notable step for crypto-linked banking services.

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Terms & Concepts
  • Digital asset bank: A banking entity focused on cryptocurrency and other blockchain-based assets, often offering custody, payments, or settlement services.
  • Payment systems: Core financial networks used to move money between institutions, including systems that support clearing and settlement.
  • Federal Reserve: The central banking system of the United States, which oversees monetary policy and parts of the national payments infrastructure.