Kraken Custody Services Now Support Clients in the UK and Australia
Key Points:
Read more: Kraken SEC Lawsuit Prepares for New Developments with Debate from the Exchange
This new division, Kraken Custody, targets users such as hedge funds and exchange-traded fund issuers. Initially launched in the US in March, the San Francisco-based company plans to expand these services to additional regions including the EU, Switzerland, the Cayman Islands, and the British Virgin Islands.
Kraken Custody service aims to provide institutions with a secure and integrated solution for investing in digital assets. The service offers advanced security protocols and role-based access controls, seamlessly integrated with Kraken’s existing product suite. Institutions can store, manage, and scale their investment strategies using Kraken Custody, which is supported by Kraken Financial, a U.S.-based, state-chartered bank that keeps clients’ digital assets separate from the Kraken exchange.
Tim Ogilvie, head of Kraken Institutional, stated that most locations where Kraken operates will be covered by the end of the year. Kraken Custody services for retail and other users are already available worldwide, with a significant share of the Bitcoin/British pound trading market since 2014. Kraken Institutional offers large users enhanced control and functionality, with the custody service marking the beginning of its international expansion. Competitors in the space include Copper and Coinbase Global Inc.
As Kraken expands its offerings and markets, the company is also considering an initial public offering (IPO). It has been in discussions for a pre-IPO fundraising round and aims to go public as early as next year.
Additionally, Kraken recently announced a global brand partnership with Tottenham Hotspur football club. The exchange will be the first official crypto and Web3 partner and the official sleeve partner for the club’s men’s and women’s teams.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Key Points: LI.FI protocol announces compensation plan after $10 million hack. LI.FI hack compensation plan…
Key Points: 21Shares launched AINJ, allowing users INJ exposure and staking rewards on major exchanges.…
New York, New York, 18th July 2024, Chainwire
Key Points: Chainbase secured $15M in Series A funding, led by Tencent and Matrix Partners…
New York, NY, 18th July 2024, Chainwire
The WazirX exchange exploit resulted in the theft of approximately $235 million in various crypto…
This website uses cookies.