SKN | Kraken Backs Trump Accounts in Wyoming, Citing State’s Crypto-Friendly Policies

Key Points

• Kraken will fund Trump Accounts for newborns in Wyoming under a state-level initiative.

• The exchange cited Wyoming’s crypto-friendly regulatory framework and its status as Kraken’s headquarters.

• Major banks including JPMorgan and Bank of America have also expressed support for the Trump Accounts program.

Kraken has joined a growing list of financial firms supporting U.S. President Donald Trump’s newly introduced “Trump Accounts,” pledging to fund accounts opened for newborns in Wyoming.

The initiative was first announced by Cynthia Lummis, who said Kraken would provide funding for all Trump Accounts created for children born in the state. The program allows parents or legal guardians to establish government-seeded savings accounts for minors under 18.

Kraken did not disclose how much it would contribute per eligible newborn.

Crypto Alignment With State Policy

Kraken co-CEO Dave Ripley said the decision reflects Wyoming’s longstanding support for digital asset innovation. The state has positioned itself as one of the most crypto-friendly jurisdictions in the U.S., enacting legislation that recognizes digital assets and enabling new charter types for crypto-native banks.

“We picked Wyoming as our global HQ because it leads with thoughtful, responsible crypto policy,” Ripley said. “We want to keep investing back in the community we call home. Starting early matters, and innovation should make long-term financial opportunity more accessible and affordable.”

Wyoming previously enabled Kraken to become the first U.S. Special Purpose Depository Institution (SPDI), a state-chartered banking framework designed specifically for digital asset firms. The company also praised the state’s support for launching the Frontier Stable Token.

The sponsorship highlights how crypto firms are increasingly aligning with state-level policy initiatives, particularly in jurisdictions that have actively courted blockchain businesses.

What Are Trump Accounts?

Trump Accounts are structured as long-term savings vehicles for American children. Under a pilot program, the federal government will deposit $1,000 into each account for children born between Jan. 1, 2025, and Dec. 31, 2028.

The accounts are designed to encourage early savings and investment participation, though full details on contribution limits, investment options and tax treatment remain under development.

Traditional financial institutions including JPMorgan, Bank of America, and Wells Fargo have also signaled varying levels of support for the initiative.

Kraken’s involvement positions the crypto exchange alongside major banks in backing a federal savings framework, potentially signaling broader integration between digital asset firms and mainstream financial policy.

Broader Industry Engagement

The move comes amid a period of increased civic engagement from crypto companies. Recently, Polymarket launched a charitable initiative in New York City, opening a free grocery store and pledging to donate 3 million meals across the five boroughs.

For Kraken, the Wyoming sponsorship may also reinforce its strategic positioning in a state that has served as a regulatory incubator for digital asset innovation.

Strategic Outlook

Kraken’s support for Trump Accounts illustrates how crypto firms are increasingly embedding themselves within traditional policy and community frameworks. By aligning with state and federal initiatives, exchanges may strengthen regulatory relationships and expand mainstream legitimacy.

Whether Trump Accounts become a widely adopted savings vehicle remains to be seen. However, crypto industry participation in such programs signals a shift: digital asset firms are no longer operating at the margins of the financial system but are seeking active roles in shaping its evolution.