Kraken parent seeks national trust charter

Kraken's parent company, Payward, has applied for a national trust company charter from the Office of the Comptroller of the Currency (OCC). This move aims to establish the Payward National Trust Company (PNTC), which will offer regulated, bank-level custody and trust services for digital assets to both institutional and individual clients. Payward intends to leverage its existing infrastructure, risk management, and compliance programs to ensure secure and compliant service delivery. This application follows similar efforts by other major crypto players like Coinbase and Ripple, indicating a growing trend towards regulated financial services within the digital asset space.