Kraken Parent Seeks OCC Charter to Become Federal Crypto Bank
Kraken parent goes for the OCC charter in bid to become a federal crypto bank
Kraken’s parent company is pursuing a national bank charter from the Office of the Comptroller of the Currency (OCC), a move that would position the firm to operate as a federally regulated crypto bank in the United States.
The OCC is the primary regulator for national banks and federal savings associations. Seeking an OCC charter signals an attempt to bring parts of a crypto business under the same federal banking framework that governs traditional financial institutions.
If granted, an OCC charter would matter because it can provide a clearer regulatory perimeter at the federal level, potentially enabling banking-style services under a single national oversight regime rather than relying solely on a patchwork of state-by-state approaches.
The bid also reflects a broader trend in crypto: major firms continue to explore more formal regulatory structures as the U.S. government increases scrutiny of digital asset activities and as market participants look for more durable operating models.
No additional details were provided about the specific scope of services the charter would cover or the timeline for any regulatory decision.
