Kraken Parent Payward Explores Becoming a 'Full-Service Bank' Outside the US

August 21 news, according to The Block, Kraken parent company Payward is exploring becoming a "full-service bank" outside the United States, aiming to expand from crypto trading into asset management and broader financial services. Payward co-CEO Dave Ripley stated at the Wyoming Blockchain Symposium that trading, banking, and asset management are the company's three key focus areas, with banking services covering payments, lending, yield, and custody—capabilities the company already possesses. Payward's subsidiary Kraken Financial has obtained a Special Purpose Depository Institution license in Wyoming and earlier this year secured a streamlined master account from the Federal Reserve, granting access to certain central bank payment systems.