Kraken wins access to Fed's core payments system, WSJ reports
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March 4 : Cryptocurrency exchange Kraken's banking unit has won access to the Federal Reserve's core payment systems, the Wall Street Journal reported on Wednesday.
The move will allow Kraken Financial to handle transactions more quickly and efficiently for big clients and professional traders, the report said, citing the company.
The development underscores the crypto sector's growing foothold in mainstream finance, as digital assets are increasingly incorporated into traditional markets and attract more interest from institutional investors.
Kraken's approval will allow it to move money on the same rails used by thousands of banks and credit unions, according to the report.
The U.S. Federal Reserve and Kraken did not immediately respond to Reuters' requests for comment.
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