Kraken Parent Company Payward Has Applied for an OCC Charter
Payward, the parent company of cryptocurrency exchange Kraken, has filed an application with the Office of the Comptroller of the Currency (OCC) to become a federally regulated trust company. This would add a federal banking charter to Kraken’s existing Wyoming state bank charter and Federal Reserve master account access.
The move represents a significant step in crypto industry regulatory engagement, as Kraken seeks to operate under federal banking oversight. The OCC charter would allow the company to offer trust services and potentially expand its banking operations under federal supervision.