Recommended
Kraken Launches Institutional Services In Australia & UK After Successful Debut In US
2024/07/22By:
The United States-based cryptocurrency exchange Kraken has extended its reach to Australia and the United Kingdom with the rollout of its institutional services, following the establishment of its institutional business unit in the US earlier this year.
The specific offering for these markets is Kraken Custody, facilitated by Kraken Financial, a Wyoming-based bank chartered by the US government. Kraken Custody is primarily targeted at hedge funds, ETFs, and other substantial institutional clients who necessitate highly secure and dependable cryptocurrency custody solutions.
- Kraken Institutional: A Timely Response to the Soaring Demand for Enterprise-Level Custody Services
- Kraken Custody: A Stand-Alone, Bank-Regulated Service Separate from the Exchange
Kraken Institutional: A Timely Response to the Soaring Demand for Enterprise-Level Custody Services
In March of this year, Kraken responded to the escalating demand for enterprise-grade crypto custody solutions by launching the institutional segment of its business in the United States. At the time of the launch, Tim Ogilvie, the Head of Kraken Institutional, emphasized that the success of Bitcoin ETFs had further intensified the necessity for a wider array of qualified custodians:
Kraken says its custody solution does more than just allow institutions to safely store digital assets, claiming in a blog post that Kraken Custody “marries cutting-edge security protocols and role-based access controls with seamless integration to the rest of the Kraken product suite.” He added that in addition to custody, it also allows institutions to “manage and scale their strategies.”
\Trade On BTCC With 10 FREE USDT!/
Kraken Custody: A Stand-Alone, Bank-Regulated Service Separate from the Exchange
Amid the aftermath of the FTX crisis in 2022 and the subsequent collapses, the crypto market has grown increasingly cautious of firms offering asset custody services. In an effort to alleviate such concerns, Kraken has designed its custody service to operate independently from its exchange business, as highlighted in a Kraken website press release:
Under the supervision of the Wyoming Division of Banking, Kraken Financial will be subject to some of the most rigorous security and operational checks of any crypto custodian. This makes Kraken Financial the ideal entity to offer custody in line with what institutions need to engage in the crypto asset-vertical.
\Trade On BTCC With 10 FREE USDT!/
Recommended for you:
A Beginner’s Guide: How To Buy Crypto In Australia In 2024
Crypto Tax In Australia: A Complete Guide For 2024
Australian Cryptocurrency Market Analysis & Outlook 2024
How To Buy Meme Coins In Australia – A Beginner’s Guide For 2024
Buy Bitcoin (BTC) Australia: A Comprehensive Guide For 2024
Australia’s First Spot Bitcoin ETF To Start Trading On ASX On 20 June, 2024
Australian Crypto Company NGS Crypto Rebrands To Hiddup Amid ASIC Investigation
Big News: Australia’s First Spot Bitcoin ETF Goes Live Today!
Best Crypto Exchanges Australia 2024
Three Secrets All Investors Must Know Before Investing in Crypto
BTCC vs. NDAX: which is a better choice for crypto trading in Canada?
BTCC vs. Bybit vs. eToro:which is the best choice for you?
BTCC vs. Coinbase vs. Crypto.com
Bitcoin Halving Countdown 2024:Something You Need to Know About It
![](/mask.png)
Register now to begin your crypto journey
Download the BTCC app via App Store or Google Play
Follow us
Scan to download
- Terms & Agreement
Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
The world’s longest-running cryptocurrency exchange since 2011 © 2011-2024 BTCC.com. All rights reserved