“The bottom line is that a bank is a big deal… banking is the granddaddy of it all, it’s the bottom of the financial services stack.”
— David Kinitsky

Location: Squadcast
Date: Wednesday 23rd September
Company: Kraken Financial & Kraken
Role: CEO & Chief Legal Officer

Last week Kraken announced that the Wyoming Banking Board had voted in favour of the exchange's application for a banking charter under Wyoming's Special Purpose Depository Institution statute. This charter makes Kraken the first cryptocurrency company to gain banking status.

Receiving the banking charter opens traditional rails in the finance world that had previously been unavailable to the exchange, and in turn, will lead to the development of a range of innovative new banking services.

In this interview, I talk to Kraken Financial CEO David Kinitsky and Kraken's Chief Legal Officer Marco Santori. We discuss the creation of a crypto bank, what it will mean to both the industry and Kraken customers and why they chose Wyoming.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

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WBD263 Show Notes: https://www.whatbitcoindid.com/podcast/the-worlds-first-crypto-bank

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