Kraken Parent Company Payward Seeks National Trust Charter

▤ Summary

Payward, parent company of Kraken, applied to the OCC for a national trust charter to create Payward National Trust Company (PNTC) and offer federally regulated digital-asset custody and trust services. The charter aims to provide bank-level custody under OCC oversight for institutional and individual clients that require a regulated qualified custodian, leveraging Payward’s existing infrastructure and compliance programs. Payward also said it is seeking to raise capital at a reported $20 billion valuation amid recent acquisitions and a previously halted IPO. These moves position Payward to deepen institutional relationships, scale regulated custody services, and prepare for further growth and potential M&A activity.

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