One of the leading platforms in the crypto world Kraken‘s CEO spoke about the services that the platform wants to offer in the future. Although the plans announced by the CEO will primarily increase the value of the platform, this development may also be important for crypto assets.
CNBCSpeaking to , CEO Jesso Powell noted that Kraken is often devoted to products and services associated with traditional financial institutions. Kraken, which also wants to offer traditional financial services such as stock trading, banking services and even loan service, could positively impact crypto assets if it succeeds in these plans.
Kraken CEO stated that while offering traditional financial services, it will also continue to offer products and services related to crypto assets.
“(Traditional financial services) is a smaller project. We are truly experts in the cryptocurrency business. We’ve been in this space for nearly a decade and we’re really aware of what’s going on in cryptocurrency.”
In September 2020, Kraken’s Special Purpose Deposit Agency (SPDI), the regulator of financial companies in the state of Wyoming, issued the statute. After this charter, Kraken gained the right to operate as an independent bank for digital assets, thus becoming less dependent on third-party financial institutions.
Following this statute, Kraken stated that it would allow the exchange to take custody of crypto assets, accept US dollar deposits, and seamlessly transfer customers’ US dollar holdings.
Kraken plans to offer asset management and treasury services, as well as debit card services and custody services for brokers. In addition, Kraken plans to go public in April 2022.
After Kraken’s move, time will tell if it will reflect as a positive move in general, as cryptos, which are considered possible in the next generation financial transaction world, will have the chance to be more integrated with traditional financial services.