Kraken expands Crypto Custody service to UK and Australia
Kraken expands Crypto Custody service to UK and Australia
Cryptocurrency exchange Kraken has expanded its Kraken Custody service to institutional clients in the UK and Australia. This marks a significant milestone since the service's initial launch in the United States in March 2024.
The move aims to cater to the growing demand for secure and reliable digital asset storage solutions among institutions in these regions.
Kraken Custody provides a comprehensive suite of services to meet the needs of institutional investors. It offers advanced security protocols and role-based access controls, ensuring the safe storage and management of digital assets. This expansion is a strategic step to enhance Kraken's presence in the global institutional market.
The service integrates seamlessly with the broader Kraken ecosystem, enabling clients to manage their crypto holdings efficiently. Kraken Custody operates under Kraken Financial, a U.S.-based, state-chartered bank, ensuring that clients' digital assets are held separately from the Kraken exchange, providing an extra layer of security.
As the institutional interest in cryptocurrencies continues to grow, expansion into the UK and Australia reflects the increasing need for robust custody solutions. This development positions Kraken as a key player in the global institutional crypto market, offering secure and reliable services to meet the evolving demands of its clients.
Kraken is a cryptocurrency exchange established in the United States that allows clients to buy, sell, and trade numerous assets for relatively minimal fees, as well as receive rewards through coin staking. The exchange offers a high level of volume and liquidity, and users can trade more than 210 cryptocurrency assets.
The exchange serves over 10 million traders and institutional clients and is supported by Digital Currency Group, Blockchain Capital, Tribe Capital, Hummingbird Ventures, and others.
See also: Wyden and Crypto.com team up to boost institutional crypto liquidity
