---
title: "Kraken parent Payward files for OCC charter to offer regulated crypto custody"
author: "Tomás Iglesias"
datePublished: 2026-05-08T21:00:00.000Z
canonical: "https://scramnews.com/post/00teql00kpfpv/kraken-parent-occ-charter-crypto-custody"
---

Payward, the parent company of cryptocurrency exchange Kraken, has filed an application with the US Office of the Comptroller of the Currency to establish Payward National Trust Company, a federally chartered trust entity that would offer regulated digital asset custody services.

The move would give Kraken a national charter alongside Coinbase, Ripple Labs, BitGo, Circle, Fidelity Digital Assets and Paxos, all of which already operate under OCC oversight. A national trust company provides ‘the certainty institutions require and establishes the infrastructure to build the next generation of custody,’ Kraken co-CEO Arjun Sethi said.

## What the charter would enable

The OCC charter would permit fiduciary custody and related services for digital assets on a national scale, subject to capital adequacy standards, internal control requirements and ongoing supervisory examinations. The application lands as OCC head Jonathan Gould, a Trump appointee, has overseen a string of national trust approvals that have generated scrutiny as the agency also weighs other applications including one from World Liberty Financial, the crypto firm co-founded by Donald Trump and his sons.

Payward already operates under Wyoming’s Special Purpose Depository Institution framework via Kraken Financial and holds a Federal Reserve master account. A federal charter would supersede the state-level framework and provide a single nationwide regulatory baseline.

## Broader Kraken strategy

The charter application fits into a broader push by Kraken to position itself as a regulated financial institution. Sethi has stated the exchange is ‘about 80 per cent ready’ to go public, with a potential US IPO targeted for 2027. The company has also pursued strategic acquisitions in US derivatives and crypto services.

‘This is not about being first; it is about getting the framework right so markets can scale with clarity, interoperability, and long-term vision for what clients will demand as these systems mature,’ Sethi said.