Kraken will fund Trump Accounts for all eligible newborns in Wyoming under the federal pilot program.
Wyoming’s crypto friendly laws influenced Kraken’s decision to back the child savings initiative.
Major banks and crypto firms now support Trump Accounts for children born between 2025 and 2028.
Crypto exchange Kraken will fund Trump Accounts created for newborns in Wyoming. The move aligns the firm with a savings plan backed by US President Donald Trump. Wyoming Senator Cynthia Lummis announced the development on Monday. She confirmed that Kraken will support every qualifying account opened in the state.
https://twitter.com/i/status/2023532423036932429
The decision places Kraken among financial firms engaging with the new federal program. Moreover, it strengthens Wyoming’s role in digital asset policy. The state hosts Kraken’s global headquarters. Therefore, the initiative ties corporate strategy to local policy support.
Wyoming’s Regulatory Edge Shapes Decision
Kraken linked its support to Wyoming’s regulatory framework. The company selected Wyoming as its global base due to clear crypto laws. In addition, the state enabled Kraken to operate as the first US Special Purpose Depository Institution. That charter allowed the firm to expand regulated services domestically.
Furthermore, Kraken acknowledged Wyoming’s role in launching the Frontier Stable Token. The company highlighted the state’s consistent approach to digital asset oversight. As a result, Kraken framed its funding commitment as reinvestment in its home community.
Trump Accounts allow parents or legal guardians to open retirement-style savings accounts for children under 18. Under a federal pilot program, the government will deposit $1,000 into each eligible account. The program covers children born between January 1, 2025, and December 31, 2028. Consequently, private sector backing may expand participation in select states.
Wall Street and Crypto Firms Join Effort
Several major banks have shown support for Trump Accounts. JPMorgan, Bank of America, and Wells Fargo have each engaged with the initiative. Their involvement signals broader financial sector interest. Meanwhile, Kraken represents the latest crypto-native firm to participate.
This development follows recent community-focused efforts by other blockchain companies. Last week, prediction market platform Polymarket opened a free grocery store in New York City. The company also pledged to donate three million meals across the five boroughs. The store operated from Thursday through Sunday. It then held a food donation event on Monday for redistribution efforts.
Similarly, competitor Kalshi organized a grocery giveaway in Manhattan. The firm provided $50 grocery support to more than 1,000 residents on February 3. These actions highlight growing civic engagement among crypto-linked firms. At the same time, Kraken’s approach centers on long-term savings support for children in Wyoming.