{"id":11812,"date":"2024-03-20T17:40:34","date_gmt":"2024-03-20T15:40:34","guid":{"rendered":"https:\/\/forklog.com\/en\/kraken-introduces-custodial-service-for-institutional-clients\/"},"modified":"2024-03-20T17:40:34","modified_gmt":"2024-03-20T15:40:34","slug":"kraken-introduces-custodial-service-for-institutional-clients","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/kraken-introduces-custodial-service-for-institutional-clients\/","title":{"rendered":"Kraken Introduces Custodial Service for Institutional Clients"},"content":{"rendered":"<p>The cryptocurrency exchange Kraken has launched a custodial service for its institutional platform, Kraken Institutional. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Kraken Custody is the first product under our new institutional brand. Offered via Kraken Financial, our state-chartered bank that holds fiat deposits in full reserve, it is ideally suited to offer qualified custody solutions for US institutional clients.<a href=\"https:\/\/t.co\/1TzDm00CBZ\">https:\/\/t.co\/1TzDm00CBZ<\/a><\/p>\n<p>\u2014 Kraken Exchange (@krakenfx) <a href=\"https:\/\/twitter.com\/krakenfx\/status\/1770449679215374789?ref_src=twsrc%5Etfw\">March 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Kraken Custody will provide digital asset storage services and create deposit accounts for organizations and companies in the United States.<\/p>\n<p>The platform will allow service clients to manage portfolios and transfer funds within a &#8220;single interface, secured by the exchange&#8217;s latest security protocols.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Custody has always been an integral part of the institutional crypto industry, and the recent success of the Bitcoin ETF has only highlighted the need for a broader range of qualified custodians,&#8221; said Tim Ogilvie, head of Kraken Institutional.<\/p>\n<\/blockquote>\n<p>Kraken Institutional operates as a special-purpose depository institution. The platform <a href=\"https:\/\/www.coindesk.com\/business\/2020\/09\/16\/kraken-becomes-first-crypto-exchange-to-charter-a-us-bank\/\">received the relevant license in 2020<\/a> in the crypto-friendly state of Wyoming. <\/p>\n<p>Client deposits will be held in separate accounts of the independent company Kraken Finance, inaccessible to the parent firm.<\/p>\n<p>In November 2023, the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> accused Kraken of offering unregistered securities in the form of digital tokens on its platform. <\/p>\n<p>In February 2024, the exchange <a href=\"https:\/\/forklog.com\/en\/news\/kraken-challenges-sec-lawsuit-as-a-dangerous-precedent\">filed<\/a> a motion to dismiss the lawsuit, arguing that its consideration could set a &#8220;dangerous precedent&#8221; for the regulator&#8217;s authority.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Kraken has launched a custodial service for its institutional platform, Kraken Institutional. Kraken Custody is the first product under our new institutional brand. Offered via Kraken Financial, our state-chartered bank that holds fiat deposits in full reserve, it is ideally suited to offer qualified custody solutions for US institutional clients.https:\/\/t.co\/1TzDm00CBZ \u2014 Kraken [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1156,193,1157],"class_list":["post-11812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-institutional-investors-and-whales","tag-kraken","tag-storage"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11812"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11811"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}