Kraken is pushing past the regulatory hurdles and is on track to launch their very own bank. With their own bank, they’ll be able to better serve customers as there would be no interference on crypto transactions. A banking license along with a digital asset one can actually position it well in the market.
Also, Kraken use of Etana Custody makes them one step ahead of the game. They know what they’re doing. Kraken has a super solid record of not promoting scam coins and tokens on their cryptocurrency exchange. They also like to play safe and maintain cordial relations with the US government.
That said, it is easier to get a loan when you’re the lender. Did anyone else watch how FTX took out loans from its own bank against tokens it had pumped? But, we are definitely looking forward to this and we hope it will not get extra attention from SEC. Poke the bear, it is meant to be poked.
Imagine all the crypto markets all of a sudden establishing their own bank, with debit and credit cards, the crypto future had been sealed, let the game begin. Time to have Coinbase bank, Binance bank, Robinhood bank and so on.
This news has been confirmed by Kraken’s Chief Legal Officer.
T lives in San Diego and is editor in chief of CryptoCoinDaddy. He got into cryptocurrency four years ago and has never looked back. He is 90% crypto,