Kraken Launches Custody Solutions For UK And Australian Institutional Clients

Cryptocurrency exchange Kraken has broadened its custody services to customers in Australia and the UK. This move is the first time the service has been offered outside the US, where it started as a way to manage digital assets.

Kraken Custody started in March and is made for corporate clients who need a platform to handle digital assets. It has safety features and access controls that are part of the more oversized Kraken products, giving institutions help with their crypto investments.

The Service Intends To Help Institutions With Their Crypto Investments and Tactics

Kraken Custody also helps institutions manage and grow their strategies well. It provides services via Kraken Financial, a US state-chartered financial institution. Kraken ensures customers’ digital assets are kept separate from the Kraken exchange.

The head of Kraken Institutional, Tim Ogilvie, gave his opinion on the debut of Kraken Custody in March. He said that Custody has always been necessary in the institutional crypto world, and the recent triumph of Bitcoin ETFs has made it clear that more qualified custodians are needed.

Kraken has over 12 years of experience in protecting customer assets, and a dependable custody solution is a critical component of a comprehensive institutional service. Kraken Custody came at the right time to provide an alternative to the market through a trusted and secure provider.

Kraken Financial offers deposit accounts and digital asset storage for Corporate clients. The platform works separately to keep funds apart from the exchange. Kraken Custody helps clients keep, handle, and move their crypto assets.

A few months ago, Kraken rolled out a platform for Corporate clients because more institutions wanted its services after spot Bitcoin ETFs were approved. The platform is named Kraken Institutional, and it includes different offerings and services for institutional investors, hedge funds, and asset managers.

Kraken Wallet Allows Users To Store Assets

Kraken also manages a virtual wallet named Kraken Wallet. This wallet lets users keep their assets, and it also makes transactions on the blockchain smooth. Kraken Wallet wants to be user-friendly, secure, and helpful to users. It also wants to make decentralized finance easier to access

Earlier this year, Kraken teamed up with Atlético de Madrid, a famous football club in Spain, for the upcoming 2024/2045 season. The crypto exchange will be the Spanish football giant’s Official Web3 and Crypto Partner.

Kraken is a US crypto exchange that was established in 2011. It was among the inaugural bitcoin exchanges registered on Bloomberg Terminal and was worth US$3 billion in January this year. The firm has been examined by regulators several times since 2018 and has accepted total penalties of over $30 million.