Kraken Institutional aims to meet growing demand for secure crypto custody solutions among hedge funds and ETF issuers in new markets.
Kraken, a prominent U.S.-based cryptocurrency exchange, is making significant strides by expanding its institutional crypto services to the United Kingdom and Australia. This move is part of Kraken's strategic efforts to cater to the growing demand for secure and reliable cryptocurrency custody solutions among high-profile clients such as hedge funds and ETF issuers.
Kraken Institutional is a specialized division within Kraken that focuses on providing advanced services tailored for institutional clients. These services include secure storage, management, and transfer of digital assets. By offering these services, Kraken aims to address the specific needs of large-scale investors who require robust security and efficient asset management solutions.
Kraken's decision to expand its custody services to the UK and Australia is a strategic move. Both countries have established institutional crypto markets, making them ideal targets for Kraken's services. Initially, Kraken Custody will support Bitcoin, Ethereum, and USDC, with plans to add more digital assets in the future. This expansion marks Kraken Custody's first international venture, highlighting the company's commitment to enhancing local engagement in the crypto asset class.
For institutional investors in the UK and Australia, Kraken's expanded services offer a reliable and secure option for managing digital assets. The inclusion of major cryptocurrencies like Bitcoin, Ethereum, and USDC provides a solid foundation for diverse investment strategies. Additionally, Kraken's commitment to adding more assets in the future indicates ongoing support and development, making it a promising partner for long-term digital asset management.
