In what seems like HUGE news for the crypto community, Kraken which is one of the oldest crypto exchanges out there recently received a banking license. I believe that it can now take deposits but it cannot offer loans.
This is important because one of the biggest challenges for people to get into crypto right now is that the fiat to crypto integration and conversion right now seems to be very convoluted and tricky. Now Kraken is able to offer crypto and regular financial services including a lot of asset and wealth management under the same umbrella which will definitely bring a lot more people in.
The other good news is that this will only be the first bank and there will be many more crypto institutions that will follow this approach and make crypto more accessible to the masses which is essential for mass adoption.
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