13 years of Kraken – A journey of growth and innovation
13 years of Kraken – A journey of growth and innovation
Intelligent, powerful, and agile, Kraken emerged 13 years ago in July to meet the burgeoning demands of the digital asset world.
With a clear vision, Kraken aimed to make cryptocurrency secure and accessible to all, embarking on a mission to accelerate its adoption for global financial freedom and inclusion.
In an article about the exchange's journey through time, Kraken highlights key milestones.
- 2011: Genesis of Kraken
In 2011, Jesse Powell co-founded Kraken after witnessing the collapse of Mt. Gox due to poor security standards. Kraken was founded on July 28, 2011, when Bitcoin was trading at $13.94. Kraken's commitment to creating a secure and professional exchange laid a solid foundation.
- 2014: Expanding trading tools
Kraken introduced margin trading and advanced order types in 2014, broadening the trading toolkit for clients. This expansion, coupled with the addition of diverse currencies and trading pairs, opened up a wide possibilities for crypto traders.
- 2015: Pioneering Ethereum trading
Kraken became the first platform to list Ethereum (ETH) in 2015, underscoring its commitment to supporting transformative technologies. Early access to ETH allowed traders to benefit from the network's growth.
- 2017: Bridging fiat and crypto
Kraken integrated multiple fiat currencies, creating a seamless gateway for clients worldwide to enter the crypto market. This integration includes EUR, GBP, USD, CAD, CHF, and AUD.
- 2019: Entering crypto futures
Kraken ventured into the crypto futures market in 2019, offering both institutional and retail investors new trading opportunities. With over 160 perpetual futures and low fees, clients could profit on both long and short sides, hedge positions, and trade with leverage.
- 2020: Achieving a digital asset bank charter
In 2020, Kraken received approval from Wyoming to form the world's first Special Purpose Depository Institution (SPDI), Kraken Financial. This milestone marked the first digital asset company in U.S. history to receive a bank charter.
- 2022: Partnering with Williams Racing Formula 1
Kraken's partnership with Williams Racing in 2022 brought together two innovation-driven communities. This collaboration introduced exclusive fan experiences and race promotions.
- 2023: Advocating for crypto regulation
In 2023, Kraken's Chief Legal Officer Marco Santori testified before Congress, advocating for effective crypto regulation. The exchange emphasized the need for equitable regulation to empower borderless and real-time transactions.
- 2024: Launching wallet and institutional services
Kraken launched Kraken Wallet in 2024, offering a secure and user-friendly solution for managing digital assets. Kraken Institutional also debuted, providing a comprehensive suite of crypto solutions for institutions.
- A constant commitment amid changes
From 2011 to 2024, Kraken's focus on security, innovation, and client satisfaction has remained unwavering.
As the crypto evolution continues, Kraken is committed to empowering the next generation of users with the tools to thrive in the digital age.
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