Kraken Expands Custody Service to UK and Australia, Targeting Institutional Investors

• Kraken Custody has made significant strides by officially expanding its services into the UK and Australia.
• This move allows institutional investors in these regions to access secure crypto custody solutions.
• Tim Ogilvie, Head of Kraken Institutional Services, emphasized the vital role this expansion will play in bolstering local engagement in the digital asset sector.

Discover how Kraken Custody’s expansion to the UK and Australia is set to enhance institutional crypto engagement across these dynamic regions.

Expansion of Kraken Custody to the UK and Australia

Cryptocurrency exchange Kraken has undertaken a noteworthy international expansion, extending its Custody service to the United Kingdom and Australia. Previously established in the United States, Kraken Custody now offers robust solutions for institutional investors in these new regions. This service provides essential security measures for managing and storing crypto assets, a vital feature for hedge funds and ETF issuers.

Institutional Investors at the Forefront

This strategic expansion targets institutional clients, including hedge funds and Exchange-Traded Fund (ETF) issuers, who have displayed an increased interest in the crypto space. By providing advanced custody solutions in the UK and Australia, Kraken addresses a growing demand, enabling these investors to manage their digital assets more effectively and securely.

Established Presence and Future Plans

While Kraken Custody’s move into the UK and Australia is significant, it’s not the exchange’s inaugural foray into these markets. Kraken has long maintained a strong presence in both countries, positioning them as prime destinations for its expanded services. Looking ahead, Kraken intends to widen its custody offerings to additional jurisdictions, including the European Union, Switzerland, Cayman Islands, and the British Virgin Islands.

Enhanced Security and Reliability

Kraken Custody stands out for its stringent security protocols and operational integrity. Trevor Rutar, CEO of Kraken Financial, highlighted that the service has undergone rigorous checks, ensuring top-notch security and reliability. Currently, Kraken Custody supports major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and the US dollar-pegged stablecoin USDC (ERC20), with plans to add more assets in the future.

Conclusion

In summary, Kraken Custody’s expansion into the UK and Australia marks a significant milestone, enhancing the accessibility and security of institutional crypto investments in these regions. With robust plans for further growth and a steadfast commitment to security, Kraken Custody is well-poised to support the evolving needs of the digital asset sector.