Kraken Gains Direct Access to Federal Reserve Payment Systems, First Crypto-Native Firm to Do So

Kraken has secured direct connectivity to the Federal Reserve's core payment infrastructure, enabling it to route and settle money transfers through the same settlement rails used by major U.S. banks, the Wall Street Journal reports. The exchange can now bypass traditional banking intermediaries entirely. This marks the first time a crypto-native company has been granted such access in U.S. financial history.