Kraken Bank Launch Imminent: Kraken Plans Its Own Bank Despite Regulatory Challenges

Cryptocurrency exchange giant Kraken is moving ahead with plans to launch its own bank, signaling a bold move into the traditional financial sector. Despite a challenging regulatory environment and the recent shuttering of its on-chain staking services, Kraken remains steadfast in its vision. According to Kraken’s chief legal officer, Marco Santori, Kraken Bank is very much on track to launch.

Kraken, the third largest crypto exchange by volume on CoinMarketCap, has confirmed its intention to establish Kraken Bank. This announcement arrives amidst ongoing regulatory scrutiny within the crypto space. However, Kraken is confident in navigating these challenges.

U.S.-based cryptocurrency exchange Kraken is working on establishing its own bank, despite the recent regulatory headwinds. Kraken Bank is on track to launch soon, reaffirming the company's commitment. Kraken originally won its bank charter approval and is now focused on bringing its banking vision to life.

Kraken, one of the world’s leading cryptocurrency exchanges, has announced its plans to launch its own bank. The prominent cryptocurrency exchange Kraken is making its foray into the banking industry with the establishment of Kraken Bank. The move is part of Kraken’s broader strategy to build a better kind of financial service, or as they put it, “We’re building a better kind of crypto.”