TLDR
- Payward, Kraken’s parent company, is exploring full banking licenses in jurisdictions outside the U.S.
- Co-CEO Dave Ripley named trading, banking, and asset management as the firm’s three key focus areas.
- Kraken already operates Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution.
- Kraken Financial received a Federal Reserve master account earlier this year, the first for a crypto company.
- Chief Commercial Officer Mark Greenberg said the company could one day offer mortgages to customers.
Payward, the parent company of crypto exchange Kraken, is looking at obtaining full banking licenses in markets outside the United States. Co-CEO Dave Ripley made the announcement at the Wyoming Blockchain Symposium 2026.
Payward Applies for OCC Trust Charter to Expand Kraken’s Regulated Crypto Custody Business
Payward, the parent company of Kraken, has applied for a national trust company charter with the OCC to establish Payward National Trust Company (PNTC), a federally regulated entity… pic.twitter.com/ObmhoihoAP
— Wu Blockchain (@WuBlockchain) May 8, 2026
Ripley said the company is not looking at a U.S. banking license immediately. Instead, it is focused on other geographies where regulation may allow faster progress.
What Payward Considers Banking
Ripley described banking broadly. He said it covers payments, money movement, lending, yield, and custody, and said Payward already does all four.
The company has identified three product pillars: trading, banking, and asset management. These areas are expected to guide the firm’s global expansion strategy going forward.
Payward already has a foothold in regulated banking through Kraken Financial. That entity is a Wyoming-chartered Special Purpose Depository Institution that launched in March 2024.
Kraken Financial is authorized to offer digital asset custody and deposit accounts for institutions. However, it cannot lend customer fiat funds and is not FDIC insured like a conventional bank.
Earlier this year, Kraken Financial received a limited-purpose Federal Reserve master account. This was the first time a crypto company had been granted access to parts of the central bank’s payment system.
Ripley said gaining conventional banking status in other countries would allow Payward to offer more financial products to more users. He did not name which specific jurisdictions or banking licenses the company is pursuing.
Mortgages and Beyond
Chief Commercial Officer Mark Greenberg went further, hinting at products that could come later down the line. He said the company hopes to one day offer mortgages to customers.
Greenberg’s comments point to Payward’s ambition to become a broad financial services provider, not just a crypto exchange. Mortgages would represent a large step beyond its current crypto-focused offerings.
On the institutional side, Kraken recently launched qualified custody through Kraken Institutional. This service targets institutions that need regulated infrastructure for storing and managing digital assets.
The custody platform also connects with Kraken’s wider product ecosystem. Clients can manage transfers and other crypto activities through a single interface.
Payward has not given a timeline for when or where it will apply for full banking licenses. The company also has not confirmed which products will launch first in new markets.
The steps taken so far, including the Fed master account and the Wyoming charter, show the company is building a regulated financial foundation. A full bank license abroad would be the next step in that progression.
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