Kraken just got rare Federal Reserve access in a move crypto firms have chased for years

Kraken's Wyoming-chartered bank has been granted a Federal Reserve master account, giving it direct access to the Fed's payment infrastructure. This allows Kraken Financial to settle US dollar payments directly through Federal Reserve systems rather than routing through traditional banking intermediaries.

• →Kraken Financial received Federal Reserve master account access, a regulatory milestone crypto firms have pursued for years.
• →The master account allows direct settlement of USD payments through Fed infrastructure without traditional banking intermediaries.
• →This development represents a significant step toward mainstream financial system integration for crypto companies.
• →Other stablecoin firms are closely watching the implications of Kraken's Federal Reserve access.
• →The approval demonstrates growing regulatory acceptance of properly chartered crypto banking entities.