Kraken's Chief Legal Officer: The Federal Reserve has not yet rejected Kraken's main account application

ChainCatcher news, Kraken's Chief Legal Officer Marco Santori stated in an interview that Kraken previously submitted an application for a master account to the Federal Reserve, and so far, the Federal Reserve has not rejected the application. It is reported that obtaining a master account would allow crypto companies to access the same system used by all major traditional financial companies for settling transactions.

Marco Santori mentioned that Kraken will not publicly sue the Federal Reserve as openly as Custodia, but will instead "fight behind the scenes" to connect to the FedNow network used by all other large financial institutions for settling transactions. (Decryt)