The crypto exchange Kraken has unveiled a crypto
custody solution for institutional investors in the United States. This new
service is offered under Kraken Financial, the state-chartered bank of the
crypto exchange based in Wyoming.
Kraken Financial is authorized to provide digital
asset custody and deposit accounts for institutional clients. The platform
operates as a segregated entity, ensuring funds and assets are held separately
from the exchange.
Tim Ogilvie, the Head of Kraken Institutional,
mentioned: “Custody has always been integral to the institutional crypto
space, and the recent success of the Bitcoin ETFs has only underscored the need
for a broader range of qualified custodians.”
“Kraken has 12+ years of experience in
safeguarding client assets, and a qualified custody solution is a core part of
a full-service institutional offering. The release of Kraken Custody is
well-timed to provide the market with an alternative via a secure and trusted
provider.”
Kraken Custody is the first product under our new institutional brand. Offered via Kraken Financial, our state-chartered bank that holds fiat deposits in full reserve, it is ideally suited to offer qualified custody solutions for US institutional clients.https://t.co/1TzDm00CBZ
— Kraken Exchange (@krakenfx) March 20, 2024
Kraken Financial operates as a segregated entity, ensuring funds and assets are held separately from the exchange. Kraken Financial’s custody offering, aptly named Kraken Custody, enables clients to store, manage, and transfer crypto assets.
Expect ongoing updates as this story evolves.
The crypto exchange Kraken has unveiled a crypto
custody solution for institutional investors in the United States. This new
service is offered under Kraken Financial, the state-chartered bank of the
crypto exchange based in Wyoming.
Kraken Financial is authorized to provide digital
asset custody and deposit accounts for institutional clients. The platform
operates as a segregated entity, ensuring funds and assets are held separately
from the exchange.
Tim Ogilvie, the Head of Kraken Institutional,
mentioned: “Custody has always been integral to the institutional crypto
space, and the recent success of the Bitcoin ETFs has only underscored the need
for a broader range of qualified custodians.”
“Kraken has 12+ years of experience in
safeguarding client assets, and a qualified custody solution is a core part of
a full-service institutional offering. The release of Kraken Custody…
