Kraken says its banking unit won “master account” access to the US Fed's core payment systems, making it the first crypto company that can move money like banks

‘Master account’ approval gives firm access to the same payment rail as thousands of banks and credit unions

Wall Street Journal 2026-03-04

Discussion

@dgt10011 Jeff Park on x
Jamie Dimon: if you want to be a bank, be a bank Kraken: challenge accepted [image]
@eleanorterrett Eleanor Terrett on x
🚨NEW: @krakenfx, the U.S.'s second-largest crypto exchange, has just done something no other crypto firm has done before: secured coveted access to the Federal Reserve. According to a report by the @WSJ released this morning, the exchange's banking arm, Kraken Financial, has
@arjunsethi Arjun Sethi on x
Fully collateralized. Direct Fed access. No bailout strategy. Probably doing banking wrong. https://www.youtube.com/...
@senlummis Senator Cynthia Lummis on x
A watershed moment. Though approval took nearly 6 years, the Fed's actions validate Wyoming's thoughtful regulatory framework. I look forward to the resolution of pending applications. Congratulations to @krakenfx, Kansas City Fed, & Board of Governors for this monumental step.
@timevalueofbtc Nik Bhatia on x
I've reflected on this morning's bitcoin news for a couple hours. The combination of Kraken getting a Federal Reserve master account and Morgan Stanley filing for a Bitcoin ETF with Bank of New York Mellon as custodian feels like just another “institutional adoption” news day,
@senlummis Senator Cynthia Lummis on x
Digital assets make payments safer, faster, and cheaper. Today's announcement marks a new era for America's financial system—this is only the beginning. [image]
@matthew_sigel @matthew_sigel on x
Kraken gets Fed master account in crypto first “a watershed milestone in the history of digital assets” 👍 [image]
@krakenfx @krakenfx on x
A historic moment for crypto. Kraken Financial has been granted a Federal Reserve master account, making us the first digital asset bank with direct access to the U.S. payments system. A major step toward connecting crypto infrastructure with the core rails of global finance.
@senlummis Senator Cynthia Lummis on x
After more than half a decade, @krakenfx just became the FIRST digital asset company to gain direct access to the American payment system. We are creating the 21st century financial services industry. [video]
@rmac Ryan Mac on bluesky
Bizarre to write this story about Kraken gaining access to major US government financial infrastructure without mentioning the company's past legal troubles, which include... being investigated for subverting sanctions and enabling transactions with people based in Iran. — www.…
@grahamsteele Graham Steele on bluesky
The @federalreserve.gov just granted a crypto company—Kraken—access to its public payment services for the first time. — More evidence that crypto's success is not as an *alternative* to the existing financial system but to capture the existing payment infrastructure. — www.w…

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Kraken says its banking unit won “master account” access to the US Fed's core payment systems, making it the first crypto company that can move money like banks

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