Payward moves to add OCC-regulated national trust to bolster Kraken's federally supervised crypto custody

Payward, Kraken’s parent company, filed an application with the U.S. Office of the Comptroller of the Currency (OCC) to charter a national trust company, the firm confirmed in a company blog post and was reported by industry outlets ^{[1] [2] [3]}.

The proposed national trust entity would sit alongside Kraken’s existing Wyoming SPDI bank charter and the group’s Federal Reserve master account, and would focus on federally regulated custody and related digital-asset services, according to reporting and the company statement ^{[3] [4] [1]}.

Industry coverage framed the move as deepening Kraken’s commitment to regulated digital-asset infrastructure; some outlets also noted the step could bolster regulatory credibility as the firm continues expansion efforts reported across the sector ^{[5] [4]}.

The application now moves into the OCC’s review process; Payward and regulators will determine next steps before any charter is granted ^{[1] [3]}.