Two Exchanges, Two Paths. Kraken's Fed Access vs. Coinbase's Trust Charter | Trust Issues 012
Welcome to Trust Issues--
Kraken just got access to FedRails through a Wyoming bank charter. Alex and Emily break down what that actually means and why Coinbase went a completely different direction.
Kraken's path: become a bank, get a Fed master account, settle directly. No more middlemen between your bank and your Kraken account. The Fed is calling it an experiment, a one-year pilot. Coinbase's path: skip the bank charter entirely, apply for a National Trust Charter through the OCC, expand product offerings without becoming a regulated bank. Two very different bets on how to grow.
Emily…
The skinny
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