One of the largest cryptocurrency exchanges, Kraken, has unveiled an institutional solution that is specifically designed for institutional investors who are getting into the cryptocurrency space. The Global Head of Institutional at Kraken, Tim Ogilvie, highlights the significance of experience in dealing with complexities related to cryptocurrencies.
Introducing Kraken Institutional
“Kraken Institutional” combines together all expertise and knowledge that the company has acquired in the cryptocurrency domain and provides products and services for institutions trading as well as stakeholding and custody. For more than a decade running, it has become a reliable exchange platform where security is guaranteed and customers’ interests are put first through effective trade implementation and technical assimilations.
In the company’s journey, it has been all about innovation. They have a strong Over the Counter (OTC) counter offering as well as the leading staking solutions thus setting industry benchmarks in latency and market quality. Built on this strong foundation, Kraken Institutional offers reliable and scalable crypto solutions to institutions through one platform.
Kraken Institutional is an ambitious project for 2024. The seasoned staff at the helm intends to introduce a qualified custody solution that will be launched later in the year. This is in line with the company’s goal of having diverse custodial options, thus mitigating the risk that comes with relying on one custodian only, which must be done away with, especially considering the rise of Bitcoin Exchange-Traded Funds (ETFs).
Tim Ogilvie stressed the importance of diversifying custody solutions to mitigate concentration risk, particularly in a market where reliance on a single custodian could pose significant challenges. Moreover, its strategy is not only about capturing existing market share but also about attracting new institutional players entering the crypto space.
The world of institutional asset management is changing as Ogilvie claims and there are more and more types of investors who are interested in crypto-assets. Therefore, Kraken intends to be a strategic partner for institutions stepping into the world of digital assets.
Nevertheless, the move by the company highlights how the cryptocurrency market has developed, with increased institutional adoption expected over a few years time. Kraken Institutional is targeting an emerging demographic that needs a complete institutional solution for its crypto needs thus pushing the boundaries of the traditional world of institutions.
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