Kraken becomes the first cryptocurrency company to obtain payment access from the Federal Reserve

Kraken has obtained a "limited purpose account" issued by the Federal Reserve Bank of Kansas City, becoming the first digital asset bank to directly access the U.S. central bank's payment infrastructure. This account allows Kraken to transfer funds on payment rails typically reserved for licensed banks. The company will adopt a phased rollout strategy, initially focusing on supporting institutional client activities. Kraken's main account authorization includes restrictions and constraints tailored to its business model and risk profile, with an initial approval period set for one year