Kraken parent company Payward explores becoming a fully registered bank outside the U.S.

Odaily News: Kraken's parent company, Payward, is considering applying for a "full banking" license in certain jurisdictions outside the U.S., aiming to expand beyond crypto trading into banking services, asset management, and financial infrastructure as part of its global growth strategy.Dave Ripley, co-CEO of Payward and Kraken, stated at the Wyoming Blockchain Symposium 2026 that the company is exploring obtaining full banking licenses in select overseas markets, but the U.S. is unlikely to be the first choice in the near term. He did not disclose specific jurisdictions or license types.Ripley noted that Payward is currently focused on three core product areas: trading, banking, and asset management. He said that banking essentially encompasses payments and money transfers, lending, yield, and custody—services that Kraken already offers to varying degrees.Payward currently operates Kraken Financial, a Special Purpose Depository Institution (SPDI) chartered in Wyoming, which has provided institutional clients with digital asset custody and deposit account services since March 2024. However, Kraken Financial still cannot lend client fiat currency like a traditional bank, nor does it have FDIC insurance.