According to a TD Cowen report, following Kraken's approval to access the Federal Reserve's core payment system, more crypto companies are expected to receive Fed master account approvals this year. Jaret Seiberg, Managing Director of TD Cowen's Washington Research Group, stated that such approvals were 'inevitable' under the pro-crypto industry stance of the Trump administration, with more announcements anticipated in the coming months. Kraken Financial (Kraken's banking division), as a Wyoming Special Purpose Depository Institution (Tier 3 category), received limited master account approval from the Kansas City Fed in March for a one-year term, subject to undisclosed restrictions and conditions. This does not include credit facilities (such as overdrafts or discount windows) and does not earn interest on reserves. Seiberg noted that this approval was granted before the Federal Reserve Board finalized the 'streamlined master account' framework, indicating that the Kansas City Fed had completed a full review of Kraken. Banks are expected to continue opposing and may file lawsuits, but TD Cowen believes banks lack the ability to block such approvals. (The Block) https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=57668