Exchange Kraken will be able to operate as a crypto bank in Wyoming
Under the status of Kraken Financial, the entity will be able to pay bills, consign and receive salaries and even incorporate digital assets
The international exchange Kraken has announced the new powers acquired in Wyoming at the United States, as the first financial entity to operate with cryptocurrencies in that state, as reported by the company in a statement.
It is known that according to the clauses of the agreement, the exchange will act under the status of Kraken Financial, the new line of services where clients can pay bills, consign and receive salaries in cryptocurrencies, and even incorporate digital assets in investment portfolios and operations. commercial, for the benefit of US residents
David Kinitsky, CEO of Kraken Financial, assures that they remain “delighted to work in a state so aligned with our philosophy and values. Wyoming is an exceptional and remarkable example of how careful regulation can drive innovation for FinTech companies.”
Kraken financial independence
According to the statement, the new line of services allows creating a financial bridge between the ecosystem and the important sector of digital currencies, so Kraken achieves independence that will currently operate locally in the territory of Wyoming and will progressively expand in different regions of USA
The advantages of Kraken Financial for being a custody entity subject to Wyoming laws is that it will maintain 100% of depositors’ reserves in fiat currency at all times, with which they will be able to respond effectively to customer requests. whenever they wish to extract their capital from the institution.
K. Villarroel
Source: diariobitcoin
