Kraken launches custodial services in UK and AU

Cryptocurrency exchange Kraken has announced a significant expansion of its presence in the international institutional services market. The company’s subsidiary, Kraken Institutional, is entering the markets of the United Kingdom and Australia, offering comprehensive custodial services for institutional clients.

Successful start in the USA

This decision was made following the successful launch of the Kraken Custody service in the United States in March of this year. The service provides institutional clients with the ability to securely store, manage, and transfer funds within a single interface that is integrated with other products in the Kraken ecosystem.

A representative of Kraken Institutional emphasized the importance of this step: «The market requires more alternative options for storing digital assets. Kraken Custody provides institutions wishing to invest in the digital asset class with an optimal solution.»

Security and integration

Kraken Custody combines advanced security protocols and role-based access control with seamless integration with other Kraken products. Services are provided through a dedicated custodial institution, Kraken Financial, registered in the United States, which ensures the separation of clients’ digital assets from the exchange’s own funds.

The entry into the Australian market is particularly interesting in light of a recent study conducted by Kraken experts. According to the results, Bitcoin is the most popular digital currency among Australian crypto traders.

Development prospects

Kraken’s expanded presence in the UK and Australian markets reflects the growing interest of institutional investors in cryptocurrencies and blockchain technologies. By providing reliable and integrated solutions for storing and managing digital assets, Kraken aims to strengthen its position in the global institutional cryptocurrency services market.

The entry of Kraken Institutional into new markets demonstrates the ongoing trend towards institutionalization of the cryptocurrency sector. As more traditional financial institutions show interest in digital assets, the demand for reliable custodial solutions like Kraken Custody is likely to grow.