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License granted to Kraken exchange in Wyoming to help grow a bank dedicated to cryptocurrency

 
License granted to Kraken exchange in Wyoming to help grow a bank dedicated to cryptocurrency
Breaking News / Crypto Market
  • The Kraken crypto platform has just been granted a license to establish the first United States digital assets bank known as the Kraken Financial. 
  • As a result of this license, the company will function as a recognised and fully regulated United States financial institution and will have the power to provide comprehensive deposit to taking, custody and more when it comes to cryptocurrency.

The Kraken crypto platform has just been granted a license to establish the first United States digital assets bank known as the Kraken Financial. As a result of this license, the company will function as a recognised and fully regulated United States financial institution and will have the power to provide comprehensive deposit to taking, custody and more when it comes to cryptocurrency.

But what does it mean for the customers? Well, through this new service users will be able to receive their salaries in bitcoin as well as pay utility bills using cryptocurrency. The firm are to facilitate the quick smooth and efficient integration of digital assets into mainstream trading and banking as a Chief Executive Officer, David Kinitsky said the following when it came to the license:

“We’re thrilled to work in a state so aligned with our philosophy and values. Wyoming is a rare and shining example of how thoughtful regulation can drive innovation for FinTech companies.”

With the launch of this new service, it is only an extension of the original goal for the exchange to enable more people to access digital assets for everyday use.

Due to the nature of its financial laws, the state of Wyoming is almost a perfect environment for getting closer and closer to this goal. The digital assets bank will be operating from its headquarters in Cheyenne, Wyoming and provide services to its US client base. Despite this, apart from also suggesting interest in making the banking service available to people all over the world in the future as it grows.

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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