Kraken Launches Crypto Custody Services to UK and Australia Institutions
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Loading... - Seth Duncan
- 19 Jul 2024
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Kraken, a prominent cryptocurrency exchange, has announced the expansion of its custody services to institutional clients in the UK and Australia. This move marks the first international rollout following a successful launch in the U.S. earlier this year.
Kraken Institutional, already operational in the UK and Australia, will now offer its advanced custody solutions to both existing and new institutional clients in these regions. The custody service, known as Kraken Custody, is provided through Kraken Financial, a U.S. state-chartered bank based in Wyoming.
Kraken Custody is primarily designed for hedge funds, ETFs, and other large institutional customers that require highly secure and reliable crypto custody solutions.
The service integrates advanced security protocols and role-based access controls with the broader Kraken product suite. This ensures that institutions can securely store, manage, and scale their cryptocurrency holdings.
The introduction of Kraken Custody to the UK and Australian markets is a significant step in Kraken's strategy to enhance its institutional services globally. By providing secure and trusted custody solutions, Kraken aims to attract more institutional clients who are increasingly seeking reliable ways to manage their crypto assets.
This expansion is just the beginning of Kraken’s broader plan to roll out its institutional services worldwide. By establishing a presence in major financial hubs like the UK and Australia, Kraken is positioning itself as a leading player in the institutional crypto market.
Kraken emphasizes its commitment to security and client service, which are crucial for institutional clients managing large volumes of digital assets. The integration of Kraken Custody with the exchange’s other products allows for a seamless and comprehensive service offering.
Kraken's expansion of its crypto custody services to the UK and Australia demonstrates its commitment to serving the institutional market with secure and robust solutions. This move not only enhances Kraken’s institutional offerings but also sets the stage for further global expansion, catering to the growing demand for reliable crypto custody services among large-scale investors.
