Kraken Unveils Qualified Custody Solution in the US
Kraken Steps Up: Launching a Qualified Custody Solution for Crypto in the US. Will its share price follow?
In a groundbreaking move for the institutional crypto landscape, Kraken Institutional has unveiled its state-of-the-art qualified custody solution, Kraken Custody, powered by Kraken Financial. This announcement marks a significant milestone for institutional investors navigating the burgeoning crypto market. Kraken, synonymous with security and reliability in cryptocurrency exchange, extends its expertise into custody services.
A New Era for Crypto Custody
Kraken Financial, operating under a state charter in Wyoming, USA, brings much-needed security and service excellence to the digital asset custody arena. By holding all deposits in full reserve, Kraken Financial stands out as a beacon of reliability and trustworthiness, setting a new standard for what institutions can expect from crypto custody solutions.
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Tim Ogilvie, Head of Kraken Institutional, highlighted the critical nature of custody in the institutional crypto space, especially in the wake of the success of bitcoin ETFs. Kraken's 12+ years of experience in safeguarding client assets positions it perfectly to meet the burgeoning demand for qualified custodians, offering a secure and trusted solution when it's needed most.
Kraken Custody: Security Meets Service
Kraken Financial's segregation from the main Kraken entity ensures a level of security and operational integrity that institutions coming from traditional finance will find familiar and reassuring. Clients can store, manage, and transfer crypto assets seamlessly within one interface, coupled with Kraken's leading-edge cybersecurity measures, promising an unparalleled custody experience.
Integration with the broader Kraken product suite means that while assets are safely in segregated accounts, clients can swiftly navigate the crypto market's opportunities without compromising security or efficiency.
Regulatory Clarity and Comprehensive Service
Under the strict supervision of the Wyoming Division of Banking, Kraken Financial adheres to and exceeds the most stringent security and operational standards in the crypto custody field. This rigorous oversight ensures that Kraken Financial's qualified custody services meet and surpass institutional needs for engaging with the crypto asset class.
Trevor Rutar, CEO of Kraken Financial, emphasized Wyoming's clear regulatory framework as a cornerstone of its ability to offer qualified custody that fully aligns with institutional requirements. He also pointed out Kraken's unique position in providing this service, leveraging its responsive client engagement, account management teams, and a brand synonymous with trust in the crypto market.
Conclusion
As the crypto market matures and institutional interest grows, the need for secure, regulated, and efficient custody solutions becomes more critical. Kraken's entry into this space with Kraken Custody represents an expansion of its services and a significant step forward for the entire crypto ecosystem.
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Kraken's commitment to security, regulatory compliance, and customer service excellence sets a new benchmark in the crypto custody domain. It offers institutions a robust platform to safely and effectively navigate the digital asset market.
