Kraken Parent Payward Applies for OCC National Trust Bank Charter

60-second summary

Kraken's parent company, Payward, is currently applying for a National Trust Bank charter from the Office of the Comptroller of the Currency (OCC). This move aims to complement Kraken's existing Wyoming Special Purpose Depository Institution (SPDI) subsidiary, allowing for further expansion and integration with traditional banking services. The OCC charter would grant Payward a federal banking license.