Kraken parent goes for the OCC charter in big to become a federal crypto bank
Payward, Kraken's parent company, has applied for an OCC national trust charter to expand its federally regulated custody services.Summary
Payward, the parent company of the crypto exchange Kraken, has applied for a national trust company charter with the U.S. Office of the Comptroller of the Currency (OCC). If approved, this would create the Payward National Trust Company (PNTC), a federally regulated entity focused on fiduciary custody and related services for institutional clients seeking bank-level protections.
This move is part of a "multi-charter" strategy that complements Kraken Financial, the company's Wyoming-based special purpose depository institution. Payward is aggressively expanding its regulatory footprint and infrastructure, recently acquiring NinjaTrader, Bitnomial, and Reap Technologies, as it prepares for a potential IPO and navigates a more industry-friendly regulatory environment under the Trump administration.
(Source：CoinDesk)