Kraken Gains Federal Reserve Access in Major Breakthrough for Crypto Industry
Crypto exchange Kraken has made history after its banking arm secured a Federal Reserve master account. Granting direct access to the U.S. central bank’s payment infrastructure, including the Fedwire settlement network.
This allows Kraken to move U.S. dollars directly through the Fed system without relying on intermediary banks. Marking the first time a crypto-native firm has gained such access. The move is widely seen as a major milestone for the digital asset industry, signaling deeper integration between crypto infrastructure and traditional financial systems. While the account comes with limitations, the development could enable faster fiat transfers and potentially pave the way for other regulated crypto firms to access central bank payment rails in the future.
Clever Robot News Desk 6th March 2025
