Paymentparent company of cryptocurrency exchange krakenIt has taken a step toward expanding its regulated operations in the United States. The company applied on May 8, 2026. Office of the Comptroller of the Currency (OCC) for a national trust company charter. If approved, this would lead to the creation of a new federally regulated entity dedicated primarily to escrow transactions called the Payward National Trust Company. custody and related functions related to digital assets.
Recommended trust company is safe, bankWorld-class protection for cryptocurrency assets aimed at a wide audience, including large institutional investors and ordinary customers who prioritize strict regulatory measures.
This will build directly on Payward’s existing strengths. technologyrisk oversight, compliance standards and a network of already regulated business units.
This installation aims to provide seamless, reliable service delivery while meeting the highest levels of security and legal requirements in the evolving field of digital finance.
This latest filing reflects Payward’s ongoing strategy to deepen its involvement in federally regulated digital asset services.
A national trust charter would create a private custody platform under direct OCC supervision and meet the specific demands of institutional players in need of a federally qualified expert. guardian.
This will enable the company to reach more customers across the country and help bridge the gap between them. traditional finance and cryptocurrency markets as US rules continue to evolve and clarify.
The application fits perfectly Payment‘s broader multi-charter approach.
It complements the firm’s existing Wyoming-based Special Purpose Depository Institution known as Kraken Financial (the first digital asset bank to provide a primary account with the Federal Reserve).
Together, these elements form complementary building blocks in a regulated banking framework designed to support efficient, accessible and innovation-friendly financial systems based on digital assets.
while wyoming If the organization focuses on specific banking activities, the national trust company will emphasize trust services and expand overall capabilities without overlap.
Arjun Sethico-chairman of Payward and krakenHe emphasized the company’s long-standing view that digital assets thrive best under open and transparent oversight.
He described the national trust company as a way to provide the reliability that large institutions expect while laying the foundation for more advanced custody options.
Rather than rushing to lead the group, Sethi emphasized the importance of creating the right structure that supports scalability, seamless connections between systems, and forward-looking solutions tailored to future customer expectations.
He also noted how the Wyoming operation and the proposed proposal were doing. OCC charter works hand in hand to develop a digitally native financial ecosystem.
In a competitive environment where other major crypto players are pursuing similar federal approvals, Payment‘s move signaled the industry’s continued maturation.
By separating core infrastructure from individual product offerings, the company positions itself to serve diverse markets with consistent liquidity standards. risk managementand operations.
This application underscores the industry’s commitment to adaptability and growth, which can benefit customers seeking scalable solutions. crypto- sector.
This development comes amid broader efforts to more comprehensively integrate digital assets into the US financial system, potentially easing custody and security concerns for both retail and professional users. If approved, Payward National Trust Company can: sign Another milestone in the firm’s efforts to foster innovation in a stable environment regulator environment.
