Sidley Partner Jess Cheng Advised Kraken in Becoming the First Digital Asset Bank to Receive a Federal Reserve Master Account

Sidley client Kraken Financial, a Wyoming-chartered bank, has been granted a Federal Reserve master account. The approval makes Kraken Financial the first digital asset bank in U.S. history to gain direct access to the Federal Reserve’s payment infrastructure.

Sidley partner Jess Cheng advised on the matter prior to joining the firm.