Kraken advances plans to launch it’s own bank

Kraken is continuing its efforts to establish its own banking entity, despite the difficulties posed by regulatory hurdles and the recent shutdown of its on-chain staking services for U.S.-based clients.

This measure was taken in response to the U.S. Securities and Exchange Commission’s accusation that Kraken had breached securities regulations. Nevertheless, Kraken appears undeterred and is still actively pursuing its plan to launch its own banking institution.