kraken organone of the oldest and most secure cryptocurrency exchanges, a brand dedicated to customized cryptocurrency solutions for institutional investors, has officially launched its qualified custody solutions available through state-chartered bank Kraken Financial.
Kraken Financial, headquartered in Wyoming, USA, is authorized to provide digital asset custody and deposit accounts to institutions. Kraken Financial holds all deposits in full in accordance with its charter, making Kraken Institutional a natural service provider to provide qualified custody.
“Custodial has always been essential to the institutional cryptocurrency space, and the recent success of Bitcoin ETFs has only highlighted the need for a broader range of qualified custodians,” said Tim Ogilvie, head of Kraken Institutional. “Kraken has more than 12 years of experience in protecting client assets, and qualified custody solutions are a key part of our full-service institutional offering. The launch of Kraken Custody is timely to provide an alternative to the market with a safe and reliable provider.”
Kraken Financial Kraken is a separate entity where funds and assets are stored away from Kraken and can be withdrawn at any time. Kraken Financial offers a familiar structure for traditional financial clients looking to enter digital asset classes with the safety and security they expect from a regulated financial institution.
Kraken Financial will house Kraken Custody, a secure custody service for customers who want to store, manage and transfer their crypto assets all from one interface. Stored assets are protected by state-of-the-art security protocols built in-house by Kraken’s leading cybersecurity team. Kraken Custody combines best-in-class security with seamless integration with the rest of the Kraken family, allowing customers to operate in the rapidly changing world of cryptocurrency while keeping their funds in segregated accounts.
“Wyoming’s clear regulatory structure means Kraken Financial can provide qualified custody services that fully meet institutions’ needs,” said Trevor Rutar, CEO of Kraken Financial. “Under the oversight of the Wyoming Department of Banking, Kraken Financial will be subject to the most stringent security and operational checks of any cryptocurrency custodian. This makes Kraken Financial the ideal company to provide custody to institutions that need to participate in the cryptocurrency asset space.”
Rutar continued, “Kraken is well suited to provide qualified custody. We operate one of the most responsive customer engagement and account management teams on the market, with brands that institutions trust. Kraken Custody will continue the same mission we have been pursuing for over 10 years: providing customers with secure and seamless access to cryptocurrency.”
Jonathon Miller, Executive Director Kraken Australia and other countries, adding, “Kraken Institutional announces archiving solution. Although initially available to eligible customers in the United States, we will continue to strive to be a compliant bridge for cryptocurrencies for any individual, trader, or institution, regardless of location. We expect our solutions to become available to more Kraken customers in the near future.”