Bitcoin’s price is surging despite uncertainty about the US and Israel’s attack on Iran.
BTC has jumped from a 24-hour low of $67,515 to as high as $73,394, representing an 8.7% increase.
The recent surge in value coincides with a significant announcement from Kraken, a US cryptocurrency exchange. Their Wyoming-based bank, Kraken Financial, has become the first digital asset bank to be granted a master account by the Federal Reserve.
This landmark approval allows Kraken to directly connect to the Federal Reserve’s payment system, including Fedwire.
Kraken can now move traditional money directly, without needing to use other banks as middlemen. This is thanks to a new system that connects regulated payment networks directly to our platform.
This achievement brings together the world of cryptocurrency with traditional government-backed finance. Getting a master account with the Federal Reserve means we won’t just be on the edge of the U.S. banking system – we’ll be a fully integrated financial institution.
Kraken Financial is a state-regulated bank that holds 100% or more of its customers’ money in liquid assets. This means it operates on a ‘full-reserve’ model, ensuring all deposits are fully backed.
This achievement comes after over five years of working with and being reviewed by both federal and Wyoming financial regulators.
A phased rollout has begun, focused first on institutional activity.
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2026-03-04 19:41