Kraken Financial Secures Federal Reserve Master Account In Historic Breakthrough For Crypto Banking

Kraken has achieved a milestone no other crypto-native firm has reached: direct access to the U.S. Federal Reserve’s payments system.

The exchange’s banking arm, Kraken Financial, has been granted a Federal Reserve master account by the Kansas City Fed, marking a pivotal moment in the integration of digital assets with traditional financial infrastructure.

The announcement, shared publicly by Kraken, underscores what the company describes as a major step toward connecting crypto infrastructure with the core rails of global finance.

A historic moment for crypto.

Kraken Financial has been granted a Federal Reserve master account, making us the first digital asset bank with direct access to the U.S. payments system.

A major step toward connecting crypto infrastructure with the core rails of global finance.…

— Kraken (@krakenfx) March 4, 2026

According to reporting cited by journalist Eleanor Terrett, the approval represents the first time a crypto-native company has gained direct, albeit limited, access to the Federal Reserve’s payments system.