Note that I said "exchange with fiat/crypto currency pairs". An exchange can certainly be crypto-only, but that's not what Kraken does.
Re:Kraken Wins Bank Charter Approval
by kirbypineapple on Monday September 21, 2020 @03:34PM
(#24547491)
Binance has fiat on-ramps and off-ramps, not sure where you get the idea that it's a "crypto only" exchange.
Not necessarily. See the existence of crypto-only exchanges like Binance. In fact, I think that's the default form of crypto market.
Anyway, there's quite a leap between being a middleman for trades, and emulating a traditional bank with all its associated services.
Considering the volatility of crypto currencies, plus the tendencies of crypto companies to go bust or simply disappear, what is the value of not just going with a regular bank?