Company Information

Get to know Kraken Financial

Kraken Financial is an independent subsidiary of the cryptocurrency exchange Kraken (Payward, Inc.). In September 2020, it received a state charter from the Wyoming Division of Banking to operate as a Special Purpose Depository Institution (SPDI), making it the first crypto company to receive a U.S. bank charter. Its mission is to bridge the gap between digital assets and the traditional financial world by offering regulated and secure banking services, including digital asset custody, demand/deposit accounts, and wire transfer services, initially for U.S. clients. While the charter has been granted, the bank is not yet fully operational for the public as of late 2023.

Industry

Financial BankingPRIMARY
Financial Other Service

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Kraken Financial

Mexico

Founded in

2016 (10 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

(73 reviews)

Cyprus

2009

(17 years)

Security Information :

CySEC

FSCA

DFSA

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.