The first crypto exchange to launch its own bank will be Kraken.
After settling with the SEC to shut down retail staking services to U.S. customers on their exchange, Kraken is going ahead with its banking venture.
Kraken Bank will launch first in the U.S. before branching out to international regions.
Kraken Bank launch is still on the horizon
The bank will work seamlessly with digital assets and the traditional world of banking that we all know. According to Kraken’s website, the bank will be “designed for crypto” with a prioritization on asset custody, data protection, high-security standards and strong regulatory oversight.