Kraken gains direct access to the Federal Reserve’s core payment system
Kraken has become the first cryptocurrency exchange to gain direct access to the Federal Reserve’s central payment infrastructure in the United States. This enables the company to conduct dollar settlements directly, without intermediaries, unlocking faster and more cost-effective transactions.
Source WSJ
This development reflects the growing acceptance of crypto platforms within the US financial system and could facilitate broader adoption of digital assets in conventional payment processes. Additionally, it will enhance Kraken’s operational efficiency and strengthen its market position.
Going forward, other crypto exchanges are likely to seek similar access, potentially reshaping the cryptocurrency industry landscape and improving cooperation between banks and crypto firms.
