Kraken Crypto Exchange Is Now a US Bank

The Wyoming Banking Board approved crypto exchange Kraken’s application to become a bank. With a state-chartered bank unit, Kraken now has a regulatory passport across several states and the ability to offer custody, payments and banking services to both institutional and retail clients. CoinDesk’s Nathan DiCamillo speaks with Kraken Financial CEO David Kinitsky on the significance of this move and what it means for the industry.