A crypto bank just got access to the Federal Reserve's core payment system..

In massive news overnight, Kraken, the first ever digital asset bank to receive a Federal Reserve master account. What does that even mean? Well, it means Kraken Financial literally just got access to the Federal Reserve's core payment system, Fedwire. That basically allows them to settle all of their transactions faster, more reliably, without the need of middleman banks. This is for deposits, exchanges, everything. It's the first time a crypto-native company that is now a crypto bank is allowed to do this. All right, usually this is just reserved for traditional finance. They It allows now a huge milestone for, uh, for normal banking perks for crypto companies. Kraken is the first one, and we expect more to roll out soon as the start of the institutional wave really begins.