Cryptocurrency exchange Kraken is the first to gain access to the U.S. central bank’s payment system., 2026/03/04 15:07:41

The American cryptocurrency exchange Kraken has established an account with the Federal Reserve System through its bank, Kraken Financial. This allows the subsidiary bank to utilize the payment infrastructure of the central bank alongside other U.S. banks, as reported by The Wall Street Journal.

Kraken has become the first among its competitors to gain direct access to the U.S. banking system, enabling it to conduct dollar transactions through the Federal Reserve System without the need for intermediary banks. This is expected to significantly enhance the platform’s operations with corporate clients and professional traders, according to representatives from Kraken.  

The exchange’s success may encourage the cryptocurrency platform to pursue an IPO, sources from the publication suggest. Over the past year, the company has acquired six other firms, including the token management platform Magna and the trading venue NinjaTrader. Direct access to the Federal Reserve’s payment system makes Kraken particularly appealing to large corporate entities. According to WSJ, the exchange aims to raise $500 million in investments with an overall business valuation of $15 billion. 

In 2020, Kraken became the first U.S. cryptocurrency company to obtain a federal banking license. This enabled the exchange to offer regulated services, including accepting deposits, asset custody, and trust management. At that time, the company stated its goal was to become a “reliable bridge between the future crypto economy and traditional finance.”  

In mid-February of this year, Kraken announced its intention to sponsor “Trump accounts” for children born in Wyoming in 2026. This initiative pertains to additional funding for the American equivalent of a maternity capital program for children.