Svmuu reports that Payward (Kraken's parent company) has applied to the OCC for a national trust company charter, planning to establish Payward National Trust Company (PNTC).
The entity will offer regulated, bank-grade digital asset custody and trust services to both institutional and individual clients.
Previously, Coinbase and Ripple have received conditional approval for similar charters, indicating that crypto institutions are accelerating their alignment with compliant financial systems.