Payward applies for OCC charter to become federally regulated crypto bank
Crypto Briefing
Kraken parent company Payward has applied for an OCC national trust charter to offer institutional digital asset custody services.Summary
Payward, the parent company of Kraken, has filed an application with the Office of the Comptroller of the Currency (OCC) to establish the Payward National Trust Company (PNTC). This entity aims to provide regulated, bank-level custody services for institutional and individual clients. Unlike a full-service bank, the charter focuses on secure asset management under federal oversight, including capital requirements and anti-money laundering standards. This move, which follows similar efforts by firms like Coinbase and Ripple, seeks to streamline compliance across various jurisdictions and strengthen Kraken’s institutional infrastructure.
(Source：Crypto Briefing)