That was a charter issued by the state. It is recognized federally so they can cater to all US customers.

However it was not a federally issued one from the UCC.

Anchorage could open up branches anywhere while Kraken is relegated to just Wyoming without getting approval from other states they want to enter.

It is all part of the archaic banking laws where state charters are overridden by Federal ones.

There was a time where only state charters existed and a bank needed one in every state it operated.

Now just get a federal one and all is good.

Not that Kraken cares, they are operating online like most forward thinking banks.

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