Kraken’s parent company applies for OCC trust charter to expand compliant custody business

Techub News, according to Wu Blockchain, Payward, the parent company of exchange Kraken, has applied to the Office of the Comptroller of the Currency (OCC) for a national trust company charter, planning to establish Payward National Trust Company (PNTC) to expand its federally regulated cryptocurrency custody business. Kraken, founded in 2011, is one of the world's leading cryptocurrency exchanges. This application for an OCC trust charter aims to establish a federally regulated entity, further expanding its institutional-grade cryptocurrency asset custody services to meet institutional clients' demand for compliant custody solutions.