Kraken+Fed is a historically significant milestone in the fields of fintech and cryptocurrency. Simply put, Kraken (through its subsidiary Kraken Financial) has obtained the Federal Reserve's (Fed) Master Account, representing the official entry of this cryptocurrency company into the most core level of the US banking system. What is a 'Federal Reserve Main Account'? The main account is like a 'bank account'. In the United States, only regulated banking institutions can open accounts with the Federal Reserve. With this account, banks can directly deposit funds in the Federal Reserve's system and access the payment infrastructure in the United States. What does it mean for Kraken? In the past, cryptocurrency exchanges like Kraken had to rely on "intermediary banks" (intermediary banks) to process deposits and withdrawals of US dollars (fiat currency). After obtaining the main account, the situation underwent a fundamental change: Directly connected to the payment track (Fedwire): Kraken can now process transactions directly using Fedwire (the US instant high-value payment system), without the need to go through third-party banks. This means that fund transfers will be faster, more cost-effective, and the process simpler. Reduce third-party risks: In the past, if intermediary banks decided to stop cooperating with cryptocurrency companies (known as "de banking"), exchanges would face paralysis. Now Kraken is directly liaising with the Federal Reserve, eliminating this intermediate risk. Institutional level trust: This is the first time in the history of the Federal Reserve that it has approved accounts such as cryptocurrency native banks. This represents regulatory recognition of Kraken's compliance, anti money laundering (AML) measures, and operational stability. 3. Attention: This is not a "full version" bank account According to the latest news in March 2026, Kraken has obtained a "Skinny/Limited Purpose Master Account"