Kraken Becomes First Crypto Exchange to Become a US Bank

Kraken is the first cryptocurrency firm to become a bank. On Wednesday, the Wyoming Banking Board voted to approve the San Francisco-based crypto exchange’s application for a special purpose depository institution (SPDI) charter. Kraken is the first SPDI bank in Wyoming and according to the Wyoming Division of Banking’s general counsel, Chris Land, Kraken will […]

Kraken

Kraken is an American cryptocurrency trading platform founded in 2011 by Jesse Powell. Kraken supports crypto-to-crypto and fiat-to-crypto trades.   Powell started Kraken in the aftermath of the hack of the Mt. Gox exchange, after having helped the now-defunct exchange with its early problems. These shortcomings are what motivated Powell to build a more robust exchange. […]