Kraken, a cryptocurrencycurrency exchange, has launched a new platform known as Kraken Institutional, aimed at institutional cryptocurrency adoption. The platform provides a wide range of services and products to institutions such as asset managers, hedge funds, and high-net-worth individuals.
The recent rise in interest following the adoption of Bitcoin exchange-traded funds (ETFs) inspired Kraken to develop customized solutions for institutional cryptocurrencycurrency investors.
“Institutional adoption of cryptocurrency is growing rapidly, and with Kraken Institutional, we’re poised to grow with this client segment,” said Tim Ogilvie, Kraken’s Global Head of Institutional.
He stated that the platform will provide dependable, scalable, and readily integrated services like as spot trading, over-the-counter trading, and staking.
Kraken is competing for market share with Coinbase, which presently serves as the custodian for the majority of newly approved spot Bitcoin ETFs.
Last month, reports surfaced that Kraken’s affiliate CF Benchmarks was working with 50 firms on Bitcoin ETF pricing, showing considerable institutional demand.
Kraken Institutional strengthens the exchange’s position in the rapidly growing cryptocurrency asset class by providing solutions to institutional investors.
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