Kraken's parent company Payward plans to apply for an “all bank” license outside the US

Comparatively, according to The Block, Kraken's parent company Payward is exploring applying for an “all-bank” license outside the US to expand from crypto trading to asset management and broader financial infrastructure services. Co-CEO Dave Ripley revealed that trading, banking, and asset management are the three core directions, but no specific jurisdiction was specified. Kraken Financial, which is licensed by the State of Wyoming, has been granted escrow and institutional deposit rights, but it is still unable to carry out fiat loans and FDIC insurance. At the beginning of the year, getting a “slimmed-down” main account with the Federal Reserve Bank was an important breakthrough. Chief Commercial Officer Mark Greenberg said he hopes to provide services such as mortgages in the future.