According to CoinMeta, as reported by The Block, Kraken's parent company, Payward, is exploring becoming a "full-service bank" in regions outside of the United States, in order to expand from cryptocurrency trading to asset management and financial services. Payward jointly with CEO Dave Ripley stated that trading, banking, and asset management are the three main areas the company is focusing on, with banking services including payments, loans, income generation, and custody. Kraken Financial, a subsidiary of Payward, has obtained a special purpose trust institution license from Wyoming and has also been granted a streamlined version of a master account by the Federal Reserve.