Kraken unveils Kraken Institutional — A new institutional arm

One of the leading crypto exchanges, Kraken, just unveiled a new brand dedicated to offering crypto solutions tailored specifically for institutional clients. The new Kraken Institutional will include hedge funds, high-net-worth individuals, and asset managers.

Kraken Institutional aims to satisfy institutional demand

According to Kraken, the exchange’s new institutional arm will integrate several of the exchange’s existing services, placing them all under one umbrella to provide a seamless and enhanced experience for institutions wishing to participate in the crypto market.

Kraken Institutional will also incorporate spot trading, OTC trading, as well as staking, meaning that it already operates as a one-stop destination for scalable, reliable, and easily integrated crypto solutions.

Commenting on the launch of Kraken Institutional, Kraken’s CEO David Ripley said that those who already work with Kraken know that the exchange cares about offering high quality products and a client-first experience. “We’ve been the leading crypto exchange for more than a decade and through Kraken Institutional, we’ll offer the same deep expertise and cutting-edge technology to propel trading excellence for institutions,” he added.

Meanwhile, the new Global Head of Institutional, Tim Ogilvie, stated that Institutional adoption of digital currencies is rapidly growing. This is why the launch of Kraken Institutional will allow the firm to grow with this client segment, and match the growing demand for such services.

He also addressed the recent Bitcoin spot ETF approvals in the US; stating that it spurred broader institutional demand, which is something that the crypto community expected. With Kraken Institutional, he said that Kraken is pulling together services and products to meet the needs of institutional clients. Ogilvie also noted that Kraken Institutional is moving fast, just like the crypto industry itself, and that more should be expected to come in the near future.

Kraken pushes back against the SEC

Kraken has been around for well over a decade now, after being founded in 2011. Today, it is one of the leading digital asset exchanges on a global level, with more than 200 listed cryptocurrencies and six fiat currencies. It serves over 10 million traders and investors, both retail and institutional.

Despite the exchange’s success, this is a challenging period for digital asset exchange providers, and that includes Kraken, as well. Recently, the platform was blocked in India, alongside several other major crypto businesses.

Kraken is also in the middle of a lawsuit with the US SEC. The US securities watchdog has been going after crypto exchanges for a long time now, and Kraken was no exception. However, the exchange pushed back recently, issuing a dismissal motion and challenging the SEC’s grip on speculative investments.

The crypto firm argued that the SEC is overreaching and trying to pursue its platform for something that doesn’t fall under its jurisdiction. Similar dismissal petitions came from other crypto giants, including Binance and Coinbase, both of which suffered similar lawsuits in early June 2023.