Kraken Just Became the First Crypto Company With a Fed Master Account — Why It Matters

The cryptocurrency industry crossed a major infrastructure milestone today – one that further cements its place in line with traditional finance and pushes it yet another step toward mass adoption. Kraken’s banking arm, Kraken Financial, has secured access to a limited-purpose master account from the US Federal Reserve Bank of Kansas. Yes, the account does come with certain limitations, but the approval m…