Kraken Financial, operating as Payward Financial, is a Wyoming-chartered special purpose depository institution (SPDI) that has achieved a significant regulatory milestone by being approved for a limited-purpose account with the Federal Reserve Bank of Kansas City. This approval marks the first time a digital asset bank in the U.S. has gained direct access to the Federal Reserve's payment infrastructure, enabling faster and more efficient fiat movement for institutional clients. Kraken Financial operates on a full-reserve basis, holding liquid assets equal to or exceeding 100% of client fiat deposits, and offers secure and regulated custody solutions for digital assets.