The digital asset company, currently partnered with firms like Morgan Stanley and One Pay, is seeking its own national trust bank charter from the OCC.

Cybercriminals say they stole sensitive records by exploiting an unpatched vulnerability known as React2Shell and using the password Lexis1234.

With an application for a U.S. bank charter, the global super app provider aims to expand its offerings and compete with established domestic challengers.

Traditional banks warn the Fed's decision to grant Kraken a limited-purpose account introduces systemic risks before final rules are even in place.