The best money is often the biggest money. And while crypto scaled over the past decade by competing on consumer-facing products like exchanges, wallets, and trading apps, the sector’s future is shaping up to be a heavily institutional one, where the biggest value flows are.
A trust charter from the U.S. Office of the Comptroller of the Currency (OCC) is what crypto firms have come to view as key to unlocking this future. The announcement earlier this spring that Kraken Financial, the Wyoming-chartered bank of the Kraken cryptocurrency exchange, was granted a Federal Reserve master account by the Federal Reserve Bank of Kansas City, only underscores the push the sector is making toward domestic legitimacy.
Crypto firms…
