Kraken Parent Payward Pushes for US Crypto Bank Charter
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Payward (Kraken parent) filed with the OCC for a US national trust bank charter to form Payward National Trust Company for federally supervised digital-asset custody targeting institutional and high-net-worth clients, signaling a push to bridge banking and blockchain and boost regulated crypto custody. Payward has deepened its Wall Street push through acquisitions of Reap and Bitnomial to strengthen crypto finance, trading and custody capabilities; this should accelerate institutional adoption and market infrastructure but increases regulatory/compliance oversight.
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- Kraken parent Payward seeks a US trust bank charter to expand regulated crypto custody services.
- Payward deepens its Wall Street push through Reap and Bitnomial acquisitions tied to crypto finance.
- Kraken aims to bridge traditional banking and blockchain through federally regulated infrastructure.
Kraken’s parent company, Payward, has applied for a national trust bank charter in the United States as crypto firms push deeper into regulated finance. The application, filed with the Office of the Comptroller of the Currency, would allow the company to launch a federally supervised trust entity focused on digital asset custody.
In a blog post, Payward said the proposed Payward National Trust Company would provide custody and trust services for institutional and high-net-worth clients across the U.S. However, the company clarified that it does not plan to operate …
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