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Kraken, the cryptocurrency exchange, has extended its custody services to institutional clients in the UK and Australia. This move marks the first international expansion of the service, which launched in the US earlier this year to manage digital assets securely. Kraken Custody offers advanced security protocols and access controls, integrated into Kraken’s product suite to support institutional crypto investment strategies.
Kraken Custody allows institutions to effectively manage and scale their crypto strategies. Operated through Kraken Financial, a US-based state-chartered bank, it ensures clients’ digital assets are held separately from the Kraken exchange. Tim Ogilvie, Head of Kraken Institutional, emphasized the importance of custody in the institutional crypto space, particularly after the success of Bitcoin ETFs, highlighting Kraken’s 12+ years of asset safeguarding experience.
Additionally, Kraken launched Kraken Institutional to meet increased demand, offering a range of products and services tailored for institutional investors, asset managers, and hedge funds. Kraken also operates Kraken Wallet, a self-custodial wallet designed to facilitate secure and simple on-chain transactions, enhancing access to decentralized finance.
