Crypto exchange Kraken has become the first crypto company to gain access to the US Federal Reserve’s (FED) main payment system. Crypto companies have already made their applications to provide faster, lower cost and secure service to their customers. The first approval came for Kraken. WSJ gave the great good news in its news based directly on Kraken sources.
Kraken Last Minute
Kraken no longer has to make dollar transfers through commercial banks (intermediary banks), but directly through the Fed’s infrastructure (Fedwire/ FedNow) will be able to do it using. For the first time, a crypto company has access to financial infrastructure normally only available to traditional banks.
This direct access kraken This is very important as it will mean that dollar deposits and withdrawals will be much faster and probably less costly for users. Once over While cryptocurrency exchanges could not find a bank to work with them in the USA, they have now reached the level of being able to conduct integrated transactions directly with the Fed. Moreover, customers will now be able to deposit and withdraw money 24/7 via FedNow.
This move, which supports the permanence of cryptocurrency companies in the region in the long term, shows that the pressure during the Biden period has now been reversed. As other crypto companies complete their permits, the US will further secure crypto as a whole.
