Kraken becomes the first cryptocurrency company to access the Federal Reserve's payment system

Kraken announces that its banking division has officially gained access to the Federal Reserve's core payment system, becoming the first cryptocurrency company able to transfer funds through the same infrastructure used by thousands of banks and credit unions in the United States.

According to the statement, this move allows Kraken to connect directly to the interbank payment network, thereby improving transaction processing speed, optimizing costs, and enhancing the ability to provide traditional financial services to customers. Access to the Fed's system is also seen as a significant step in bridging the gap between digital assets and the traditional financial system.

This development could pave the way for other cryptocurrency companies to seek access to core payment infrastructure, as the industry pushes for greater recognition and deeper integration into the mainstream financial system.