Kraken to Establish Its Own Bank After Giving Up on America

Kraken, the cryptocurrency exchange, has announced that it will be launching its own financial institution, Kraken Bank. The move comes as the company grows increasingly frustrated with the actions of US authorities. Kraken’s Chief Legal Officer, Marco Santori, said that the bank is currently being finalized and will be launched soon. The announcement was made in an exclusive interview with The Block, and Santori said that the name Kraken Bank was a fitting one for the institution. The launch of Kraken Bank is seen as a way for the company to take control of its own destiny and avoid the regulatory issues that have plagued other cryptocurrency exchanges.