Banks usually borrow short-term from depositors, lend/invest long-term, and make money due to (i) the upward sloping yield curve, and (ii) profitability pricing credit risk.
If that's how you understand what banks are, then SPDIs seems less like banks (which borrow from depositors) than to safe deposit box operators (which provide a place where depositors can keep valuables they don't want disturbed).
So what is Kraken getting from the SPDI designation? Access to bank payment networks like ACH etc.?
Banks usually borrow short-term from depositors, lend/invest long-term, and make money due to (i) the upward sloping yield curve, and (ii) profitability pricing credit risk.
If that's how you understand what banks are, then SPDIs seems less like banks (which borrow from depositors) than to safe deposit box operators (which provide a place where depositors can keep valuables they don't want disturbed).
So what is Kraken getting from the SPDI designation? Access to bank payment networks like ACH etc.?