Kraken Institutional is expanding its crypto custody services to the UK and Australia. This move marks Kraken Custody’s first international extension since its U.S. launch in March 2024.
Kraken Institutional caters to high-profile clients like hedge funds and ETF issuers, offering secure storage and management of digital assets. Their custody service, run by Kraken Financial, allows 24/7 withdrawals and keeps funds in segregated accounts.
Currently, Kraken Custody supports Bitcoin (BTC), Ethereum (ETH), and USDC stablecoin (USDC), with more assets to be added this year.
Tim Ogilvie, Head of Kraken Institutional, emphasized that the UK and Australia have well-established crypto markets, making them ideal for this expansion. This strategic move aims to boost local engagement in the crypto asset class.
By leveraging Kraken’s wider product suite, the expansion aims to enhance security and ease of navigation in the crypto space. This step is crucial for Kraken’s long-term growth and influence in global crypto markets.
