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Kraken Gains Federal Reserve Approval for Direct Master Account Access

Kraken Gains Federal Reserve Approval for Direct Master Account Access

Kraken Financial secures direct access to Fedwire and ACH payment systems through Federal Reserve master account, improving operational efficiency and reducing transaction costs.

Summary

Kraken Financial, the banking arm of Kraken, obtained a Federal Reserve master account on June 4, 2025. This grants Kraken direct access to Fedwire and ACH payment systems, reducing reliance on intermediary banks and enhancing operational efficiency. The approval follows Kraken's Wyoming charter, marking a significant milestone for crypto-native institutions in integrating with traditional financial infrastructure.

Terms & Concepts
  • Federal Reserve: The central banking system of the United States that oversees monetary policy and operates core payment networks used by banks and financial institutions.
  • Master Account: An account held directly at the Federal Reserve that allows an institution to access central bank payment and settlement services without relying on intermediary banks.
  • Fedwire: A real-time gross settlement system operated by the Federal Reserve that processes large-value interbank payments and transfers trillions of dollars daily.