news

bitcoin

1 X bitcoin bitcoin =

Friday

30 October 2020

Interview: Caitlin Long and David Kinitsky on crypto's big win with Kraken Financial bank charter

Interview: Caitlin Long and David Kinitsky on crypto's big win with Kraken Financial bank charter


smart summary beta

Caitlin Long and David Kinitsky on crypto's big win with Kraken Financial bank charter.

Kraken Financial, the firm's new bank, got the green light from Wyoming on Sept.

"For Wyoming, this is an economic development initiative," founder and CEO of Avanti, Caitlin Long, told Cointelegraph in a joint interview with David Kinitsky, Managing Director of Kraken Financial.

"The Kraken charter is the first of what Wyoming hopes are many," she noted, mentioning that more than 1,000 companies have turned to the state to harness its fintech-friendly regulatory framework. .

Kraken went public with its charter approval on Sept.

"There are certain things that we are in discussions to work with Kraken on, where Kraken may be able to help Avanti and we may be able to work together on some of the consumer aspects of Avanti's business, precisely because we don't service consumers — we can't.".

"The chartering of a Wyoming SPDI is a watershed moment for the crypto industry in the U.S., precisely because, until this point, crypto-native companies were blocked from having access to the Federal Reserve payment system," Long said. "Only banks have access to the Federal Reserve payment system, and, until today, a crypto-native company could not be a bank," Long explained.

"It has taken a lot of work to get to this point." Long herself was deeply involved in helping to push for the Wyoming regulation, as the President of the Wyoming Blockchain Task Force

Goto Full Article

bitcoin bitcoin price

$9106.76

24h

Live Average

bitcoin

News Article Sentiment

positive

Score (0)

Article Metadata

author

site

cointelegraph.com
Market data feeds provided by cryptocompare.com
bitsmart 2018