Chicago Business Attorney Blog
Crypto economy has arrived.
An actual physical bank will soon be providing the full slate of deposit-taking, custody and fiduciary services for cryptocurrency such as bitcoin.
The Cheyenne, Wyoming-based Kraken Financial on September 16 became the first digital asset firm in the U.S. to obtain a federal- and state-recognized bank charter and thus will be regulated very similarly to other American banks. Although the institution will have a physical office in Cheyenne, the plan is to emphasize online and mobile banking, with customer support on call 24/7/365.