Kraken parent Payward applies for national OCC trust charter following Ripple, Coinbase
Payward, the parent company of Kraken, has applied for a national trust company charter from the OCC to provide regulated digital asset services.Summary
Payward, the parent company behind the Kraken cryptocurrency exchange, has officially submitted an application to the Office of the Comptroller of the Currency (OCC) for a national trust company charter. The proposed entity, Payward National Trust Company (PNTC), aims to offer institutional and individual clients regulated, bank-level custody for digital assets. Co-CEO Arjun Sethi emphasized that this move is part of a broader commitment to building transparent, regulated infrastructure for the next generation of crypto services. This application aligns Payward with other major industry players like Coinbase and Ripple, both of which have recently received conditional approvals for similar national trust charters despite opposition from traditional banking advocacy groups.
(Source：The Block)