The Kraken Bank is very on course, assures Exec

The Kraken Bank is very on course, assures Exec
Kraken had a hard time with the United States supervisory authorities. Despite the difficult environment, the crypto tour is planning the rollout of your own bank.
Marco Santori, Chief Legal Officer von Kraken, announced that the Kraken Bank is on the best way to the start.
Kraken-Bank
According to Kraken Support, the offer will initially be available to the existing customers of the stock exchange in the USA. International expansion is also possible.
On its official website, the Kraken Bank will be based on the Wyoming SPDI framework that enables it to "grant the custody and custody of assets, data protection, security standards and strict regulatory supervision".
It further explained that SPDI banks are obliged to keep full reserves, which means that user funds are not awarded without their permission. This is a big issue that has gained a lot of importance, especially after the dramatic collapse of FTX, which allegedly misused customers in favor of his sister trade company Alameda.
The website claimed that all assets are kept in stock and, as cash or, least of risk, are available as liquidest barequivalent. Kraken Bank will also have considerable investment reserves and surpluses in order to cover the entire credit of all customers, even in a scenario of a potential "bank run".
The start of the Kraken Bank was gradually introduced in 2022, but was delayed for unknown reasons. In the meantime, Santori confirmed that the start is on the right track and added:
"We will have these pens with the small ball chains. We will order thousands of you and attach them everywhere at the desks of the Wall Street banks. With our logo."
regulatory problems
The development follows that SEC boss Gary Gensler met the crypto exchange based in California with a severance payment of $ 30 million after he had noticed that he had not registered her program for the stake up of crypto-assets.
Kraken agreed to end the service and to pay the fine in exhaustion, prejudice interest and civil law punishment without admitting or denying misconduct. The Legal Officer also refrained from commenting on the agreement with the agency, but added that the staking function contributed a small part of the company's income.
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