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by futureofmoney
102 days ago
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The interesting part here isn’t just that Kraken got a Fed master account.
It’s what it changes in the settlement architecture.
Historically:
crypto firm → partner bank → Fedwire → dollar system
With a master account:
crypto firm → Fedwire → dollar system
That removes the bank intermediary from the settlement layer.
At the same time banks are building crypto custody and ETF infrastructure internally.
So the boundary between crypto infrastructure and the traditional financial system is starting to blur. |
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