Payward applies for national trust company charter to enhance digital asset custody
Here's what it means for you.
This move could significantly enhance institutional trust in the cryptocurrency sector.
What happened
Payward, the parent company of Kraken, has applied for a national trust company charter with the Office of the Comptroller of the Currency (OCC).
The Context
- The charter would allow Payward to offer federally regulated custody services for digital assets.
- This application is part of a broader trend of cryptocurrency firms seeking regulatory approval to enhance legitimacy.
- If approved, the charter could reshape digital asset custody and attract institutional clients.
Takeaway
The approval of Payward's charter could significantly impact the landscape of digital asset custody and institutional investment in cryptocurrencies.
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Payward applies for OCC charter to become federally regulated crypto bank
Payward has applied for a charter from the Office of the Comptroller of the Currency (OCC) to become a federally regulated crypto bank, a move that could significantly impact the landscape of digital asset custody. This application follows a series o...