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In its first international expansion since its launch earlier this year, Kraken Institutional, the dedicated brand for bespoke crypto solutions for institutional investors, has announced that Kraken Custody is now available to institutional clients in both the United Kingdom and Australia. Kraken Institutional is one of the most secure cryptocurrency exchanges that has been around for the longest period of time.
Kraken Custody is now available to qualifying investors in the United Kingdom and Australia, allowing them to store, manage, and transfer cryptocurrency assets. The Kraken Custody service allows clients to participate in the fast-paced world of cryptocurrency while their funds remain in separate accounts. This is accomplished by combining the best-in-class security with a seamless interface with the rest of the Kraken product suite.
Kraken Financial, a state-chartered bank in the United States, is the provider of Kraken Custody. Since its introduction in March of this year, Kraken Financial has provided a qualified custody service in a number of states in the United States. Direct custody services will be made available to customers in the United Kingdom and Australia by Kraken Financial. The cash and assets will be held in a remote location from Kraken, just like they are in the United States, and they will be accessible for withdrawal at any moment.
Industry Comments
Tim Ogilvie, Head of Kraken Institutional, said: “Kraken has long had a strong presence in the UK and Australia, so they were the prime destinations to expand Kraken Custody to. Both markets have well established institutional crypto scenes and we anticipate the local launch of Kraken Custody will enable them to increase their engagement in the asset-class.”
Trevor Rutar, CEO of Kraken Financial, said: “Kraken Financial’s state-bank chartered in Wyoming means Kraken Custody is held to some of the most rigorous security and operational checks of any crypto custodian, translating into the security and reliability institutions need. We look forward to rolling out our robust solution to institutions in both the UK and Australia so they can continue to engage in the crypto-asset vertical.”
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FAQ
- What is Kraken Custody?
Kraken Custody is a secure crypto custody service that allows institutional investors to store, manage, and transfer cryptocurrency assets. It combines industry-leading security with a user-friendly interface integrated into the Kraken platform. - Who can access Kraken Custody in the UK and Australia?
The service is available to qualifying institutional investors in the United Kingdom and Australia, enabling them to safely engage in cryptocurrency trading and asset management. - How does Kraken Custody ensure the security of assets?
Kraken Custody offers top-tier security protocols, holding client funds in separate, remote accounts that are not directly tied to Kraken’s operational infrastructure. This approach provides robust protection while ensuring 24/7 accessibility for withdrawals. - What is Kraken Financial?
Kraken Financial is a state-chartered bank in Wyoming, USA, that provides custody services. It upholds rigorous security and operational standards, ensuring trust and reliability for its clients. Kraken Financial is the provider of Kraken Custody in the US, UK, and Australia. - Why did Kraken choose to expand to the UK and Australia?
According to Tim Ogilvie, Head of Kraken Institutional, these regions have well-established institutional crypto markets. Expanding Kraken Custody to these areas aligns with Kraken’s mission to support institutional investors globally and meet the growing demand for secure crypto asset management. - What are the benefits of Kraken Custody for institutional investors?
- Security: Funds are stored in segregated accounts with industry-best protections.
- Accessibility: Assets remain easily accessible for withdrawals at any time.
- Reliability: Backed by Kraken Financial’s rigorous standards and operational checks.
- Integration: Seamless connection with Kraken’s broader suite of products for trading and asset management.
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Conclusion
Kraken’s launch of Custody services in the UK and Australia marks a significant step in its mission to empower institutional investors globally. By combining unparalleled security, operational excellence, and seamless integration, Kraken Custody enables institutions in these key markets to confidently participate in the growing crypto-asset space. With its robust solutions, Kraken continues to strengthen its position as a leader in institutional cryptocurrency services.
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