Kraken and Federal Reserve Access₿ Crypto

Kraken Gains Historic Fed Access, Boosting Crypto Integration

March 5, 2026, 12:00 AM172 words10 sources
Kraken Gains Historic Fed Access, Boosting Crypto Integration

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Kraken has become the first cryptocurrency exchange to secure direct access to the Federal Reserve’s payment system through its banking subsidiary, Kraken Financial. Approved by the Federal Reserve Bank of Kansas City, this milestone allows Kraken to hold reserves and settle transactions in central bank money via Fedwire, bypassing intermediary banks and potentially reducing costs and processing times for institutional clients. While access is limited – Kraken cannot lend or access the Fed’s discount window – it represents a significant step towards mainstream crypto adoption and signals a gradual embrace of the crypto ecosystem by the Federal Reserve. This approval, under a 'skinny' master account framework, is seen as a pilot program potentially paving the way for other crypto firms like Ripple and Circle. Simultaneously, Visa and Bridge are expanding their stablecoin card program to over 100 countries, driven by increasing stablecoin usage for payments, particularly in emerging markets where traditional financial channels are often expensive or restricted. Senator Cynthia Lummis believes this Fed access could drive Bitcoin services within US banks.

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This article is based on analysis of 12 source articles from our news database.

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