Kraken Secures Access to Feds Core Payment Systems: WSJ

In brief

• Crypto exchange Kraken has secured approval for a Federal Reserve “master account,” giving it access to the Fed’s core payment systems.
• A “master account” enables regulated depository institutions to maintain account balances at the central bank.
• Kraken Financial’s account comes with some limitations, akin to the “skinny” master account proposed by the Fed’s board of governors last year.