Kraken just got rare Federal Reserve access in a move crypto firms have chased for years

Kraken has cleared a regulatory hurdle that crypto firms have chased for years: direct access to the Federal Reserve’s core payments infrastructure. On March 4, the exchange said its Wyoming-chartered bank, Kraken Financial, has been granted a Federal Reserve master account, allowing it to settle US dollar payments directly over Fed rails instead of routing transfers through sponsor banks. The US Fed confirmed that t…