Kraken Institutional, the dedicated brand for bespoke crypto solutions for institutional investors, from one of the longest-standing and most secure cryptocurrency exchanges, has announced that Kraken Custody is now available to institutional clients in both the UK and Australia, in its first international expansion since launch earlier this year.
From today, eligible investors in the UK or Australia can store, manage and transfer crypto assets in Kraken Custody. Combining best-in-class security with a seamless integration to the rest of the Kraken product suite, Kraken Custody enables clients to act in the fast-paced world of crypto while funds remain in segregated accounts.
Tim Ogilvie, Head of Kraken Institutional, said: “Kraken has long had a strong presence in the UK and Australia, so they were the prime destinations to expand Kraken Custody to. Both markets have well established institutional crypto scenes and we anticipate the local launch of Kraken Custody will enable them to increase their engagement in the asset-class.”
Kraken Custody is offered via Kraken Financial, a US state-chartered bank that has offered a qualified custody solution in select US states since its launch in March this year. Kraken Financial will offer custody services directly to UK and Australian clients. Just like in the US, funds and assets will be held remote from Kraken and will be available to withdraw at all times.
Trevor Rutar, CEO of Kraken Financial, said: “Kraken Financial’s state-bank chartered in Wyoming means Kraken Custody is held to some of the most rigorous security and operational checks of any crypto custodian, translating into the security and reliability institutions need. We look forward to rolling out our robust solution to institutions in both the UK and Australia so they can continue to engage in the crypto-asset vertical.”
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