Kraken Institutional Expands Custody Services to UK and Australia
Kraken Institutional, the division catering to institutional investors of the US-based crypto exchange Kraken, has announced the international expansion of its custody services into the UK and Australia. This move marks a significant step for the company following its initial launch earlier this year.
Kraken Custody’s Expansion
Starting July 18th, institutional clients in the UK and Australia can now utilize Kraken Custody to securely store, manage, and transfer their crypto assets. This expansion aims to cater to the growing institutional demand for reliable and secure custody solutions in these markets.
Tim Ogilvie, Head of Kraken Institutional, expressed his excitement about the expansion, stating, “Kraken has established a strong presence in the UK and Australia, making them ideal markets for the expansion of Kraken Custody. With well-established institutional crypto scenes in both countries, we believe that our custody services will further enhance their participation in the digital asset space.”
Through Kraken Custody, institutional clients can benefit from a secure and reliable platform to safeguard their crypto assets, further solidifying Kraken’s position as a trusted provider of crypto custody solutions.
Kraken Financial Launches Qualified Custody Services in UK and Australia
Kraken Financial, a US state-chartered bank, has expanded its qualified custody services to the UK and Australia. The new jurisdictions will allow Kraken Financial to provide direct custody services, ensuring that funds and assets are securely held separately from the exchange and available for withdrawal at any time.
Currently, Kraken Custody supports Bitcoin (BTC), Ethereum (ETH), and USDC (ERC20), with plans to add more assets later this year.
Partnerships, IPO, and More
In addition to its custody services expansion, Kraken recently announced a partnership with Atlético de Madrid, a prominent Spanish football club. Starting from the upcoming La Liga season, Kraken will serve as the club’s Official Crypto and Web3 Partner, as well as its Official Sleeve Partner.
The partnership aims to bridge the gap between the crypto industry and the sports world, creating new opportunities for both sectors.
Kraken’s Latest Developments and Plans
For fans of Spanish football and users of the Kraken platform, exciting news has emerged regarding the popular exchange. Recent reports suggest that Kraken is considering a final funding round to raise over $100 million before potentially going public.
Kraken’s New Mobile Wallet
In addition to its fundraising plans, Kraken has also introduced a new self-custodial mobile wallet called “Kraken Wallet.” This innovative wallet allows users to manage their tokens, NFTs, and DeFi activities across multiple blockchains, including Bitcoin, Ethereum, Polygon, Dogecoin, Base, Solana, and Arbitrum.
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