You are viewing a single comment's thread from:
RE: Kraken is the first crypto company to receive a bank charter
Dear @lbarbera
I also just wrote about this news few days ago :)
(I've just noticed that you commented on it. thx)
My impression it is also, that this is another step which will bring mass adoption to crypto, as it's making it much more convinient and easy for someone who isn't tech savvy to purchase crypto.
It is important to notice that what has been granted to Kraken is not a full-fledged national banking license or an industrial loan company charter, but a special-purpose depository institution license from Wyoming.
Initially, I wasn't aware of it. However, I still see it as big step. In right direction :)
Yours, Piotr
Hi @crypto.piotr, thank you for checking my article! While these are very interesting news, I wanted to highlight the specific nature of the charter issued to Kraken, as I'm afraid many would just give a cursory reading to the headlines and conclude "Kraken is now a bank in the United States" - which obviously is not. Nonetheless, the step forward is big as you correctly noticed, and I also wanted to underline the role of Wyoming's crypto-friendly legislation, which I believe will make a difference and help setting the template for other to follow in Kraken's steps. Crypto needs exposure to become truly successful.
Appreciate your comment @lbarbera