Custodia and Kraken Lead as Crypto Firms Race for Fed Master Accounts

Cryptocurrency-related firms scramble for legitimacy and infrastructure parity with traditional banks as the US progressively leans pro-crypto. Against this backdrop, a clear regulatory hierarchy has emerged, with reports indicating that only two players are at the top. Crypto Firms Battle for Fed Access, But Only Custodia and Kraken Are In Custodia Bank and Kraken Financial are the only crypto-native institutions with full bank charters. This positions them as frontrunners for coveted Federal Reserve (Fed) master accounts source: https://beincrypto.com/crypto-firms-federal-reserve-diamond-status/